(Eagle News) — Inflation continued to ease in the fourth quarter of 2019, bringing year-to-date average inflation well within the the government’s announced target range, the Bangko Sentral ng Pilipinas said on Friday, Jan. 24.
According to the BSP, the headline inflation of 1.6 percent in the fourth quarter of last year, down from the 1.7 percent in the third quarter, brought year-to-date average inflation to 2.5 percent, which is within the target range of 3.0 percent, plus and minus one percentage point, for the year.
The BSP said the slowdown was due to lower food and non-food inflation.
Real Gross Domestic Product also grew by 6.4 percent in the fourth quarter of 2019, faster than the revised 6 percent expansion in the third quarter.
The BSP said the GDP growth figure brought the full-year 2019 average GDP growth to 5.9 percent.