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Annual consumer price inflation was 5.2% in April 2024, down from 5.3% in March 2024. The CPI increased by 0.3% month-on-month in April 2024. The main contributors to the 5.2% annual inflation rate were: housing and utilities (increased by 5.8% year-on-year and contributed 1.4 percentage points);
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BOP swings to deficit in April 2024
The central bank attributed the outflows to the national government’s net foreign currency withdrawals from its deposits with the BSP to “settle its foreign currency debt obligations and pay for its various expenditures.”