![]() ![]() Inflation tapered off starting November at 6.0 percent and eased further in 2019, hitting 3.0 percent in April and averaging 3.6 percent in the first quarter of 2019. The surge was attributed to supply disruptions that pushed food prices higher, rising global oil prices, and the effects of the first tax reform package enacted into law in December 2017 (which, among others, imposed or increased excise taxes on petroleum products, sugar-sweetened beverages, automobiles, tobacco and liquor, and coal). Inflation accelerated for nine consecutive months from January 2018 and reached a high of 6.7 percent in September. PHILIPPINES EXPORTER FULL
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