• The Philippines’ consumer prices rose more than economists expected in January.
• Consumer prices rose 8.7% y/y (median estimate +7.6%) in January versus +8.1% in December, according to the Philippine Statistics Authority
  ** Estimates range +5.4% to +8.0%, 22 economists
• Utilities +8.5% y/y vs +7% in Dec.
• Restaurants, accommodation, goods and services +7.6% y/y vs +7% previous month
• Clothing and footwear +4.4% y/y vs +3.9% in Dec.
• Inflation in national capital region +8.6% y/y vs +7.6% in Dec
• Last month’s print was fastest since November 2008, based on compiled data.