Core inflation rose last month, bolstering the central bank’s recent contractionary policy in the face of what it says are “strong inflationary pressures”.
Figures published on Tuesday showed core prices rose 3.5 per cent year-on-year during April, up from 3.4 per cent the previous month.
The annual core measure, seen as an indicator of underlying price pressures, strips out volatile changes in the prices of food and energy.
The headline rate edged lower to 3.2 per cent, marginally below March’s 3.3 per cent rate.
Core inflation was driven by a rise in the 12-month inflation rate for other goods to 2 per cent from 1.6 per cent in the previous month, driven by increases in the prices of fish and other seafood, refined oil, and local chicken.
