Collapsing world crude prices slowed down the increase in the prices of basic goods in April, the Bangko Sentral ng Pilipinas said Thursday.
Prices rose by an average of 3 percent in April 2019. Inflation has been on a downtrend trend since February. The Philippine Statistics Authority will release official data on Tuesday through its website. “The collapse in oil prices is expected to moderate inflationary pressure coming from higher prices of rice and other food items along with upward adjustment in electricity rates in Meralco-serviced areas,” he added.
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