JULY 5, 2019 – Inflation decelerated to 2.7 percent in June, the lowest figure recorded since September 2017.
The figure fell within the Bangko Sentral ng Pilipinas’ forecast for the month which was set at 2.2 to 3 percent.
It was also lower compared in May where inflation hit 3.2 percent.
“The slowdown of inflation in June 2019 was mainly driven by slower annual rate posted in the index of the heavily-weighted food and non-alcoholic beverages at 2.7 percent,” the Philippine Statistics Authority (PSA) explained.
Slower annual increments in the indices of the following commodity groups were also observed:
• alcoholic beverages and tobacco (9.3 percent)
• housing, water, electricity, gas, and other fuels (3 percent)
• furnishing, household equipment and routine maintenance of the house (3.1 percent)
• transport (1.6 percent)
• communication (0.3 percent)
Inflation in Metro Manila moved at a slower pace of 3 percent, according to PSA.
This was also observed in the inflation of other regions, easing to 2.6 percent from 3.1 percent in May.
However, inflation in MIMAROPA region remained high at 5.2 percent. The lowest was recorded in Zamboanga Peninsula at 0.7 percent.