Philippine inflation at 5.4 percent in February

MANILA, March 5, 2008 (AFP) – Inflation in the Philippines rose to 5.4 percent in February, its highest level since October 2006, the government said Wednesday. The figure was a sharp increase on the 2.6 percent posted for the same period last year and up on the January inflation rate of 4.9 percent.

Core inflation, which excludes selected food and energy items, rose to 4.0 percent in February from 3.4 percent in January, the National Statistics Office said in a statement. It was the biggest inflation rate since October 2006, which also saw 5.4 percent inflation.