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Philippines Inflation Rises to 2.9% Amid Housing Costs

1/9/2025

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Summary

Story summary

Inflation in the Philippines increased to 2.9% in December 2024, up from 2.5% in November, primarily due to rising housing and transport costs.
The average inflation rate for 2024 was 3.2%, aligning with the government's target range of 2-4%.
Food inflation held steady at 3.5%, with notable increases in vegetable prices.
The Bangko Sentral ng Pilipinas aims to ease monetary policy to bolster economic growth.

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Story summary

Inflation in the Philippines increased to 2.9% in December 2024, up from 2.5% in November, primarily due to rising housing and transport costs.
The average inflation rate for 2024 was 3.2%, aligning with the government's target range of 2-4%.
Food inflation held steady at 3.5%, with notable increases in vegetable prices.
The Bangko Sentral ng Pilipinas aims to ease monetary policy to bolster economic growth.