(Eagle News)—Inflation picked up at 3.2 percent in May, faster than last month’s 3 percent but slower than last year’s 4.6 percent, data from the Philippine Statistics Authority showed.
According to the PSA, the “uptrend was primarily brought about by higher annual rates posted in the heavily-weighted food and non-alcoholic beverages index at 3.4 percent; and housing, water, electricity, gas, and other fuels index at 3.3 percent.”
The PSA said slower annual increments, on the other hand, were seen in the indices of alcoholic beverages and tobacco at 9.5 percent; transport, 3.5 percent; and restaurant and miscellaneous goods and services, 3.3 percent.
“The rest of the commodity groups retained their previous month’s annual rates,” the PSA said.
The PSA said the following registered higher annual mark-ups this month compared to last month:
- Other cereals, flours, cereal preparation, bread, pasta and other bakery products, 3.7%;
- Fish, 4.2%;
- Fruits, 4.6%;
- Vegetables, 12.5%; and
- Food products, not elsewhere classified, 6.8%
The indices of rice and corn, on the other hand, posted annual declines of 0.7 percent and 2.8 percent, respectively.
“Except for the index of milk, cheese and egg which retained its previous month’s annual rate of 2.6 percent, the rest of the food groups recorded slower annual increments during the month,” the PSA said.
