THE Philippine Statistics Authority (PSA) said that consumer prices in the Philippines grew faster this April.

This marks the third third straight month to increase. It is the quickest pace recorded in  the past four months. 

It breached the government’s target range of 2.0% to 4.0%.

According to the PSA, the reported headline inflation, which the rate of increase in the prices of goods and services was clocked at 3.8%.

The increase this April, brings the year-to-date rate to 3.3%.

It is higher compared to the 3.7% in March, and the 6.6% in April 2023.

The said figure is the fastest since the 3.9% recorded in December 2023.

According to the PSA said upward trend is due to higher prices of food and non-alcoholic beverages which contributed 2.3 percentage points to the headline inflation, with prices up by 6.0% year-on-year.

Meanwhile, the transport prices also by 2.6% and had contributed 0.2 percentage points, while information and communication prices by 0.5%, faster than the 0.4% in the previous month.