Philippine April inflation eases to 4.8 percent

Published: 04 May 2009 17:25:50 PST

MANILA, May 5 - Philippine annual inflation slowed to 4.8 percent in April, broadling in line with market estimates, as prices of nearly all commodity groups fell from last year's bloated levels, the statistics office said on Tuesday.

Inflation in March was at 6.4 percent from a year earlier.

The market had expected April inflation to ease to a 16-month low of 4.7 percent, according to a Reuters poll last week. The forecast was near the low end of a central bank estimate of 4.5-5.4 percent for last month. [ID:nMAN469907]

Core inflation, which strips out some volatile food and energy items, came in at an annual 5.0 percent in April from 5.6 percent in March.