(Eagle News) — Inflation further slowed in February, clocking in at 2.6 percent, the Philippine Statistics Authority reported on Thursday, March 5.
According to the PSA, inflation rate in January was pegged at 2.9 percent and at 3.8 percent in February 2019.
The PSA said the downtrend in the inflation was due to the “slower annual increase in the heavily-weighted food and non-alcoholic beverages index at 2.1 percent during the month.”
“In addition, annual increments decelerated in the indices of alcoholic beverages and tobacco at 18.2 percent; housing, water, electricity, gas, and other fuels, 1.7 percent; and transport, 1.8 percent,” the PSA said.
The PSA said a higher annual mark-up of 3.5 percent was noted in the “index of furnishing, household equipment and routine maintenance of the house.”
The rest of the commodity groups retained their previous month’s annual growth rates.