In terms of performance and efficiency, is there a recommended approach for handling number formatting in PHP?

When handling number formatting in PHP, it is recommended to use the number_format() function for its simplicity and efficiency. This function allows you to easily format numbers with specified decimal points, thousands separator, and decimal separator. By using number_format(), you can ensure consistent formatting across your application without the need for custom formatting functions. 

// Example of using number_format() for formatting numbers
$number = 1234567.89;
$formatted_number = number_format($number, 2, '.', ',');
echo $formatted_number; // Output: 1,234,567.89

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number formatting performance efficiency PHP approach

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