PSA: Inflation picks up to 2.7 percent in July

(Eagle News) – -Inflation accelerated further to 2.7 percent in  July, the Philippine Statistics Authority said on Wednesday, Aug.5.

This brings the year-to-date inflation for 2020 at 2.5 percent.

In June, inflation was at 2.5 percent and in July 2019, 2.4 percent.

According to the PSA, the acceleration in the overall inflation was caused by the jump in the inflation of the transport index at 6.3 percent during the month with the easing of lockdown restrictions then.

Inflation of the transport index was at 2.4 percent in June.

The PSA said annual increments were also higher in the indices of the following:

  • Alcoholic beverages and tobacco at 19.3 percent;
  • Housing, water, electricity, gas, and other fuels, 0.8 percent; and
  • Restaurant and miscellaneous goods and services, 2.5 percent.

The other remaining commodity groups exhibited slower annual increases during the month, except for the health index which continued to post an annual rate of 2.8 percent.