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PSA: Inflation among poor families ease to 13-month low of 5% in February

By: - Reporter / @bendeveraINQ
/ 04:39 PM March 21, 2019
PSA: Inflation among poor families ease to 13-month low of 5% in February

Store keepers wait for customers at stalls selling dry goods in Commonwealth Market in Quezon City in this file photo taken in September 2018. The latest Philippine Statistics Authority (PSA) data showed inflation among poor families eased to a 13-month low of 5 percent in February 2019 as price hikes of essential items such as food and beverages continued to slow down. INQUIRER PHOTO / GRIG C. MONTEGRANDE

 

MANILA, Philippines – Inflation among poor families eased to a 13-month low of 5 percent in February as price hikes of essential items such as food and beverages continued to slow down.

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The Philippine Statistics Authority (PSA) data showed that year-on-year rate of increase in prices of basic commodities for the bottom 30-percent income households decelerated to its slowest pace since the 4.7 percent posted in January last year.

The February rate was lower than the 5.4 percent a year ago and 5.9 percent a month ago.

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In the National Capital Region (NCR), inflation among poor households fell to 2.9 percent last February from January’s 4 percent.

Outside NCR, the rate declined to 5 percent from 5.9 percent last January.

PSA data also showed that inflation of the heavily-weighted food, beverages, and tobacco index slowed to 5.6 percent from 6.7 percent in the previous month.

“The inflation of the country’s food index eased further to 5 percent in February. Its annual rates were higher at 5.8 percent in the previous month and 5.3 percent in the same month of the previous year,” the PSA said.

Clothing, housing and repairs, as well as fuel, light and water indices also registered lower inflation rates compared to January.

The average prices increases affecting the bottom 30-percent income families were nonetheless still higher than the headline inflation rate of 3.8 percent in February. /kga

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TAGS: Business, business news, February 2019, Inflation, local news, nation, national news, News, Philippine news updates, PSA
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