Philippines Inflation Rate Edges Down in March


Philippines annual consumer prices decelerated for the second straight month to 3.9 percent, the lowest rate in four months, due to a slowdown in prices of alcoholic beverages, tobacco, housing, water, electricity, gas, recreation and restaurants.

Year-on-year, prices of alcoholic beverages and tobacco decelerated to 4.9 percent in March from 7.1 percent in February; cost of housing, water, electricity, gas and other fuels slowed to 2.7 percent from 3.6 percent; recreation and culture decreased to 2.4 percent from 2.5 percent; and restaurant and miscellaneous goods and services slowed to 2.0 percent from 2.2 percent. 

The country’s food alone index increased by 6.0 percent in March from 5.9 percent in February. All the food groups had higher annual rates except the fish and vegetable indices. 

On a monthly basis, consumer prices dropped by 0.1 percent in March, following a 0.1 percent rise in February, mainly due to a 0.8 percent decrease in prices of housing, water, electricity, gas and other fuels. In addition, slower monthly upticks were recorded for the remaining commodity groups except for food and non-alcoholic beverages; health; communication; and education which retained their last month’s rate.

Philippines Inflation Rate Edges Down in March


National Statistics Office | Joana Taborda | joana.taborda@tradingeconomics.com
4/4/2014 10:11:22 AM