(Eagle News)–Headline inflation in the Philippines decelerated to 2.7 percent in June 2019, the lowest recorded since September 2017, the Philippine Statistics Authority said.
According to the PSA, the slowdown was due mainly to “slower annual rate posted in the index of the heavily-weighted food and non-alcoholic beverages at 2.7 percent.”
The PSA said the “slower annual increments” in the indices of the following commodity groups also contributed to the slowdown:
- Alcoholic beverages and tobacco, 9.3%;
- Housing, water, electricity, gas, and other fuels, 3.0%;
- Furnishing, household equipment and routine maintenance of the house, 3.1%;
- Transport, 1.6%; and
- Communication, 0.3%.
Education index also dropped by 4.5 percent, prompting the downtrend, the PSA said.
“On the other hand, higher annual rates were registered in the indices of health at 3.7 percent; and recreation and culture, 3.2 percent,” according to the PSA.
“The rest of the commodity groups retained their previous month’s annual rates,” it added.
