June inflation among poor lowest in 18 months

The rate of increase in prices of basic commodities among poor families fell to an 18-month low in June amid slower food price increases.

In a report on Friday, the Philippine Statistics Authority (PSA) said the consumer price index for the bottom 30-percent income households further eased to 4 percent year-on-year last month, the lowest since the 3.7 percent in December 2017.

In the first six months, inflation among the poor averaged 4.7 percent, down from the average of 5.9 percent in the first half of last year.

In June, inflation among poor households in Metro Manila was 1.6 percent, lower than the 4.1 percent recorded outside the National Capital Region (NCR).

The six-month average inflation of 2.7 percent in NCR was also below the 4.7 percent registered outside NCR.

Nationwide, “contributing to the downtrend were the slower annual rates posted in the indices of food, beverages and tobacco at 4.3 percent, and fuel, light and water, 2 percent,” the PSA said.

In the case of the food-alone index, inflation eased to 3.9 percent in June from 4.3 percent a month ago and 6.2 percent a year ago.

“The annual rate of the index of corn declined at a rate of 1.5 percent in June. Except for the indices of eggs and cereal preparations, other food groups exhibited slower annual increments in June. Relative to its annual gain in May, the index of eggs recorded a higher annual rate of 2.5 percent in June, while the index of cereal preparations retained its previous month’s annual growth of 3.9 percent,” the PSA said.

However, the indices of clothing, and housing and repairs registered higher annual increments of 3.3 percent and 4.2 percent, respectively, in June.