(Eagle News) — Inflation clocked in at 4.5 percent in April, the Philippine Statistics Authority said on Wednesday, May 5.
The PSA said the 4.5 percent was the same rate recorded in March, but faster than the 2.2 percent rate recorded in April 2020.
According to the PSA, varied annual growth rates in the indices of the commodity groups were observed in April.
Annual increases, on the other hand, were higher in the indices of the following commodity groups:
- Housing, water, electricity, gas, and other fuels, 1.5 percent;
- Furnishing, household equipment and routine maintenance of the house, 2.1 percent;
- Health, 3.1 percent;
- Transport, 17.9 percent;
- Communication, 0.3 percent; and
- Restaurant and miscellaneous goods and services, 3.4 percent
The PSA said the rest of the commodity groups retained their March annual growth rates.
Meanwhile, inflation in Metro Manila and outside the National Capital Region also remained flat, according to PSA data.
Metro Manila’s inflation rate was at 3.7 percent in April, faster than the 1.2 percent recorded in April 2020.
Inflation outside NCR, on the other hand, clocked in at 4.7 percent in April, also the same annual rate recorded in March 2021.
Inflation is the rate at which the cost of goods and services rises over time.