Inflation in the Philippines gained speed to 4.5 percent in April, after 4.3 percent in March, the government National Statistics Office announced Thursday.

The figure was close to the higher end of the central bank's earlier estimate that the April inflation rate would be between 3.7 and 4.7 percent.

The April level was also higher than the average 4.1 percent recorded in the first three months of the year.

The national government has also kept a target of 3 to 5 percent inflation which it considered "tolerable" enough to allow measures that will boost overall economic activity.

Recent surges in local prices of petroleum products, influenced by the costlier oil in the world markets, have been somewhat tempered by slower increases in food prices overall, Philippine economic managers have noted.

Bangko Sentral ng Pilipinas, the country's central monetary authority, last raised key policy rates by a quarter of a percentage point in March after a series of price increases in petroleum products.

The NSO report Thursday said core inflation, which excludes the volatile food and energy items, moved up to 3.8 percent in April after the preceding month's 3.5 percent.

The April level is also the highest in a year as prices of almost all commodity groups, paced by the fuel, light and water (FLW) sector, moved up by higher rates, the data indicated.

Prices of fuel, light and water surged by 8.8 percent in April, considerably faster than the 7.7 percent rise in March, said the NSO report.

The cost of services also moved up substantially by 6.5 percent year-on-year in April, against 5.7 percent the preceding month.

The critical food, beverages and tobacco (FBT) sector, however, registered a slower price inflation of 4.2 percent compared to the previous month's 4.4 percent, thanks largely to the overall food index's slower rise of 4.3 percent from the previous 4.5 percent, according to the NSO.