(Eagle News)–Inflation slowed down further in April, the slowest pace in 16 months, the Philippine Statistics Authority said.
According to the PSA, the 3.0 inflation in April is the lowest inflation posted since January 2018.
Inflation rate in March 2019 was recorded at 3.3 percent and in April 2018, 4.5 percent.
“The slowdown was mainly brought about by the slower annual increase in the heavily-weighted food and non-alcoholic beverages index at 3.0 percent,” the PSA said.
According to PSA, “slower annual increments were also noted in the indices of the following commodity groups:”
- Alcoholic beverages and tobacco, 9.9%;
- Clothing and footwear, 2.4%;
- Housing, water, electricity, gas, and other fuels; and furnishing, household equipment and routine maintenance of the house, both at 3.2%;
- Health, 3.7%; and
- Restaurant and miscellaneous goods and services, 3.5%.
“The rest of the commodity groups either exhibited higher annual hikes or retained their previous month’s annual rates,” PSA said.
It added core inflation decelerated to 3.4 percent, excluding selected food and energy items.
