Country’s inflation in September slowed down to 0.9 percent, which accounted the slowest rate since June 2016.
The Philippine Statistics Authority (PSA) released the monthly inflation report this morning.
Inflation in August 2019 was higher at 1.7 percent and in September 2018, 6.7 percent.
Contributing primarily to the downtrend in the inflation during the month was the 0.9 percent annual rate of decrease in the index of the heavily-weighted food and non-alcoholic beverages. Likewise, the annual change of the transport index decreased further by 0.9 percent in September 2019. Lower annual increases were also posted in the following commodity groups during the month:
- Clothing and footwear, 2.7%;
- Housing, water, electricity, gas, and other fuels, 0.8%;
- Communication, 0.2%;
- Recreation and culture, 1.4%; and
- Restaurant and miscellaneous goods and services, 3.0%.
On the other hand, inflation of alcoholic beverages and tobacco index moved up further by 14.3 percent in September 2019. The rest of the commodity groups retained their previous month’s annual rates education, 4.6 percent. The rest of the commodity groups retained their previous month’s annual rates.
Excluding selected food and energy items, core inflation, likewise, decelerated further to 2.7 percent in September 2019. In August 2019, core inflation was registered at 2.9 percent and in September 2018, 9.7 percent.
Annual decreases were still noted in the indices of rice at 8.9 percent; corn, 4.1 percent; vegetables, 4.7 percent; and sugar, jam, honey, chocolate and confectionery, 4.1 percent. Moreover, annual mark-ups were slower in the following food groups:
- Other cereals, flour, cereal preparation, bread, pasta and other bakery products, 3.0%;
- Meat, 2.4%;
- Fish, 1.4%;
- Oils and fats, 1.2%; and
- Food product, not elsewhere classified, 6.3%.
On the contrary, higher annual increases were observed in the indices of milk, cheese and egg at 3.1 percent; and fruits at 7.9 percent.
Moreover, NCR’s inflation in September also slowed down to 0.9 percent.Its annual rate was higher at 1.4 percent in August 2019 and 6.3 percent in September 2018.
Areas outside NCR, particularly the Region IX (Zamboanga Peninsula), recorded the lowest annual rate (-1.3) while MIMAROPA accounted the highest rate of 2.2.
Further, the following regions posted negative annual rates during the month:
- Region I (Ilocos), 0.2
- Region VIII (Eastern Visayas), 0.1%;
- Region IX (Zamboanga Peninsula), 1.3%; and
- Caraga, 0.3%.
Reported by: Philippine Statistics Authority