Philippines April inflation at 4.9% y/y, exceeds market forecast

MANILA, May 5 (Reuters) – Philippine annual inflation jumped to 4.9% in April, surging beyond this year’s 2%-4% target band, due mainly to increases in energy and food prices, the statistics agency said on Thursday.

The headline figure was stronger than the median forecast of a 4.6% increase in a Reuters poll, and near the top end of the central bank’s projected range of 4.2% to 5.0% for the month.

(Reporting by Neil Jerome Morales and Enrico dela Cruz. Editing by Ed Davies)