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Economy

Emerging Asia's inflation softens as oil and currencies steady

Upward pressure eases in Philippines while prices fall in Malaysia

An attendant fills a vehicle with gas in the Philippines. Lower crude-oil prices has softened inflation across developing Asia.   © Reuters

SINGAPORE -- Inflation is tapering off across Asia's emerging economies as crude oil prices stabilize and the currencies of developing nations regain their footing, giving room for the region's central banks to step back from last year's spate of monetary tightening.

Growth in consumer prices in India and the Philippines slowed for four straight months through February on a month-to-month basis, while Malaysia saw consumer prices fall 0.7% year on year in January, the first such decline in about nine years.

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