PSEi ends flat as investors digest February inflation data

Share prices on the Philippine Stock Exchange closed in the red on Friday, albeit relatively flat, as investors digest the February inflation print.

The benchmark PSEi shed 1.12 points or 0.02% to 6,881.37 at the closing bell. The broader All Shares slipped by 4.68 points or 0.11% to 4,158.54.

“Local shares closed relatively flat as the February inflation print came in within expectations at 4.7%...,” Regina Capital Development head of sales Luis Limlingan said.

Inflation posted its fifth consecutive month of acceleration in February at 4.7%, its highest in two years when it was recorded at 4.4% in January 2019.

The higher inflation print was blamed mainly on the rising pork prices due to supply constraints due to the African swine fever (ASF), which decimated much of the hog population.

More than 3.998 billion shares valued at P7.732 billion, changed hands. Decliners led advancers, 135 to 87, and 45 issues were unchanged.—LDF, GMA News