(Eagle News) — Inflation accelerated to 4.0 percent in March 2022, the Philippine Statistics Authority said on Tuesday, April 5.
According to the PSA, this was an increase from the 3.0 percent inflation rate reported in February 2022, but a 0.1 decrease from the rate reported in March 2021.
With the acceleration, the national average inflation from January to March 2022 is now at 3.4 percent.
The PSA said the increase in the inflation for indices of food and non-alcoholic beverages at 2.6 percent; housing, water, electricity, gas, and other fuels, 6.2 percent; and transport at 10.3 percent contributed primarily to the upward trend of the overall inflation during the month.
The PSA said higher annual increments were also observed in the following:
a. Tobacco, 4.8 percent;
b. Furnishing, household equipment and routine household maintenance, 2.6 percent;
c. Information and communication, 0.7 percent; and
d. Restaurants and accommodation services, 3.0 percent.
Inflation for food also rose to 2.8 percent in March 2022, from 1.1 percent in February 2022.
At the national level, faster annual growth rates were seen in the following, according to the PSA:
a. Flour, bread, and other bakery products, pasta products, and other cereals, 3.6 percent;
b. Meat and other parts of slaughtered land animals, 2.9 percent;
c. Fish and other seafood, 4.3 percent;
d. Milk, other dairy products, and eggs, 0.8 percent;
e. Oils and fats, 9.1 percent;
f Sugar, confectionery, and desserts, 6.2 percent; and
g. Ready-made food and other food products not elsewhere classified, 2.3 percent.
Inflation in Metro Manila also rose to 3.4 percent in March 2022, from 1.9 percent in the previous month, and in areas outside Metro Manila, to 4.1 percent in March 2022, from 3.4 percent in February 2022.