China News Agency, Manila, March 7 (Reporter Zhang Xinglong) According to data released by the Philippine National Bureau of Statistics on the 7th, the country's inflation rate in February was 8.6%, a year-on-year increase of 5.6%, and a month-on-month decrease of 0.1%.
Data show that in February 2023, the inflation rate in the Philippines changed its upward trend for several consecutive months and dropped slightly to 8.6%.
According to previous data released by the Philippine National Bureau of Statistics, from August 2022 to January 2023, the country's inflation rate will continue to rise and remain high.
The data showed that lower inflation in the transport sector and food was the main factor behind the slight drop in headline inflation.
Among them, the transportation industry inflation rate fell from 11.1% in January to 9.0% in February, and the food inflation rate slowed down from 11.2% in January to 11.1% in February.
In addition, the inflation rates of food and non-alcoholic beverages, alcoholic beverages, and tobacco remained at relatively high levels, at 10.8 percent and 11.0 percent, respectively.
The data show that the inflation rate in the National Capital Region of the Philippines was 8.7% in February; among the regions outside the National Capital Region, the Eastern Visayas region had the lowest inflation rate in February at 6.3%, and the Western Visayas region had the highest inflation rate at 10.8%. .
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