The Financial Express

Philippine inflation eases to 2.2pc in April

Published: May 05, 2020 11:10:53 | Updated: May 07, 2020 14:16:21

File photo (collected) File photo (collected)

The Philippines' headline inflation further slowed down to 2.2 per cent in April 2020, from 2.5 per cent in March 2020, the Philippine Statistics Authority (PSA) said on Tuesday.

"This brings the year-to-date inflation for this year to 2.6 per cent. In April 2019, inflation was higher at 3.0 per cent," the PSA said in a statement.

According to the PSA, contributing to the downtrend in the headline inflation in April 2020 was the further decrease in the annual rate of transport index at 6.1 per cent, reports Xinhua.

"This was the lowest inflation recorded in this group's index since October 2015," the PSA added.

April is the first full month that the Philippines imposed the strict quarantine measures in the plenty of provinces and cities since mid-March to stem the spread of the coronavirus. Under strict quarantine, public transportation is suspended.

In addition, the PSA said slower annual mark-ups were seen in the indices of commodity groups such as alcoholic beverages and tobacco, at 17.9 per cent; clothing and footwear, 2.6 per cent; housing, water, electricity, gas, and other fuels, 0.3 per cent; health, 2.8 per cent; communication, 0.3 per cent; and restaurant and miscellaneous goods and services, 2.4 per cent.

The indices of the rest of the commodity groups such as furnishing, household equipment and routine maintenance of the house, recreation and culture, and education retained their previous month's annual growth rates, the PSA said.

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