Inflation Hits A 13-Month High Of 2.4%.

The Philippine Statistics Authority (PSA) reported today that the country's annual inflation rate accelerated to 2.4% in February, up from 2% in January. The spike was largely attributed to rising costs in housing, water, electricity, and gas, which posted a 3.5% inflation rate. Food and non-alcoholic beverages also saw a significant jump to 1.8%. Despite the 13-month high, the rate remains within the central bank's target range. Officials stated they are closely monitoring global oil price risks to prevent further spikes in transport and utility costs.

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