(Eagle News) — Inflation accelerated further to 4.7 percent in February, the fastest pace since January 2019, the Philippine Statistics Authority reported on Friday, March 5.
According to the PSA, the uptrend in the country’s inflation was brought about primarily by the uptick in the inflation of heavily-weighted food and non-alcoholic beverages.
From 6.1 percent in January 2021, this went up to 6.7 percent.
The PSA said also contributing to the uptrend were the higher annual increments recorded in the indices of the following:
- Alcoholic beverages and tobacco, 12.2 percent;
- Housing, water, electricity, gas, and other fuels, 0.9 percent;
- Health, 2.9 percent;
- Transport, 10.4 percent;
- Communication, 0.3 percent; and
- Restaurant and miscellaneous goods and services, 3.2 percent
Inflation slowed down, however, to 2.4 percent for furnishing, household equipment and routine maintenance of the house.
In the National Capital Region, inflation eased to 4.1 percent in February, from the 4.3 percent recorded in January 2021. With a report from Meanne Corvera
