(Eagle News)–The country’s headline inflation eased further to 2.4 percent in July, the Philippine Statistics Authority said.
According to the PSA, this was the lowest inflation recorded since January 2017, and the same rate recorded in July 2017.
Last month, the PSA said inflation rate was at 2.7 percent.
According to the PSA, the downtrend was primarily due to the slower annual rate posted in the index of food and non-alcoholic beverages at 1.9 percent.
The PSA said slower annual increments were noted in the indices of the following:
- Alcoholic beverages and tobacco, 8.8%;
- Housing, water, electricity, gas, and other fuels, 2.2%;
- Furnishing, household equipment and routine maintenance of the house, 2.9%;
- Health, 3.2%; and
- Transport, 0.7%.
The PSA said a downward trend in inflation of the National Capital Region was also posted during the month, with its slower annual increase of 2.3 percent.