Philippine April Inflation Comes in Slower Than Expected at 3.8% [BNN Bloomberg (Canada)]
Palantir Technologies Inc. Class A (PLTR)
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Source: BNN Bloomberg
Consumer prices rose 3.8% on-year last month, according to statistics agency data released Tuesday. That was slower than the median 4.1% gain estimated by economists in a Bloomberg survey. Rice inflation came in at 23.9% compared to a year ago, slower than the March rate of 24.4%. Bangko Sentral ng Pilipinas Governor Eli Remolona flagged last month an increasing risk of inflation breaching the central bank's 2%-to-4% goal for a third straight year in 2024. Persistent price pressures are building a case for the central bank to hold its key rate at a 17-year high of 6.5% at a meeting this month, and delay a pivot to monetary easing possibly to next year. --With assistance from Manolo Serapio Jr., Cliff Venzon and Tomoko Sato. ©2024 Bloomberg L.P. Top Picks Top Stories Young Canadians feel poorer in warning sign for economy, Trudeau TD risks 'lost decade' in U.S. money-laundering scandal, Jefferies says Bonds may no longer be the safe part of your portfolio: Berman P
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