Philippine annual inflation accelerated more than expected in December to hit its highest in seven months, the country’s statistics agency said on Tuesday, Xinhua reported. Mainly driven by holiday-related demand in food and beverages as well as fuel prices, headline inflation was 1.5% in December, up from the 1.1% registered in November but down from 2.7% a year earlier, Philippine Statistics Authority reported. Core inflation in December was 2.1% compared with 1.8% the previous month. Higher annual rates were registered in the indices of beverages and tobacco; health; transport; and recreation and culture,” the PSA said in a statement.
