(Eagle News) — Inflation eased to 4 percent in July, the Philippine Statistics Authority reported on Thursday, Aug. 5.
According to the PSA, this was less than the 4.1 percent inflation rate recorded in June 2021, and brought the country’s year-to-date inflation from January to July 2021 at 4.4 percent.
In July 2020, inflation was at 2.7 percent.
According to the PSA, the downward trend was attributed to the lower annual increment registered in the transport index, now at 7.0 percent, from the 9.6 percent recorded in the previous month.
Slower annual increases were also recorded in the indices of the following commodity groups:
- Alcoholic beverages and tobacco, 10.2 percent;
- Furnishing, household equipment and routine household maintenance, 2.3 percent; and
- Restaurant and miscellaneous goods and services, 3.6 percent.
“Moreover, the annual rate of recreation and culture index dropped further to -0.7 percent during the month, from -0.6 percent in the previous month,” the PSA said.
Inflation rates, on the other hand, were higher in the indices of the following commodity groups:
- Food and non-alcoholic beverages, 4.9 percent;
- Clothing and footwear, 1.7 percent;
- Housing, water, electricity, gas and other fuels, 2.6 percent;
- Health, 3.1 percent; and
- Communication, 0.3 percent.
Inflation for food index at the national level was higher at 5.1 percent in July 2021, from the 4.9 percent in the previous month.
Meanwhile, annual hikes were slower in the indices of the following food groups:
- Other cereals, flour, cereal preparations, bread, pasta, and other bakery products, 1.7 percent;
- Meat, 16.0 percent;
- Milk, cheese and egg, 0.6 percent; and
- Food products not elsewhere classified, 0.9 percent.
The rest of the food groups retained their previous month’s annual growth rates.
