PSA: Inflation for poor families eased to 13-mo low
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.
Philippine Statistics Authority (PSA) data showed the year-on-year rate of increase in the 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.
In the National Capital Region (NCR), inflation among poor households fell to 2.9 percent in February from January’s 4 percent.
Outside NCR, the rate declined to 5 percent from 5.9 percent in January.
PSA data 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.
The clothing, housing and repairs, as well as fuel, light and water indices also registered lower inflation rates compared to January levels.
The average price increases affecting the bottom 30-percent income families were nonetheless still higher than the headline inflation rate of 3.8 percent in February. —BEN O. DE VERA
