(Eagle News) — Inflation eased to 3 percent in January.
According to the Philippine Statistics Authority, this was slower than the 3.6 percent rate recorded in December 2021.
The PSA said the slowdown was due to the lower annual increase in housing, water, electricity, gas and other fuel, now at 4.5 percent in January 2022, from 5.1 percent in December 2021.
The lower annual increments in the indices of the following commodity groups aslo contributed to the downtrend:
- Tobacco, 5.6 percent;
- Housing, water, electricity, gas, and other fuels, 4.5 percent;
- Health, 3.1 percent;
- Recreation, sport and culture, 1.5 percent;
- Education services, 0.6 percent; and
- Restaurants and accommodation services, 3.0 percent.
The indices recorded in the following, meanwhile, were higher:
- Clothing and footwear, 2.0 percent;
- Furnishing, household equipment and routine household maintenance, 2.4 percent;
- Transport, 7.0 percent;
- Information and communication, 0.7 percent; and
- Personal care, and miscellaneous goods and services, 2.2 percent.
In Metro Manila, the PSA said inflation also slowed down to 1.3 percent in January 2022.
In December 2021, inflation was at 2.1 percent.
Inflation in areas outside Metro Manila, meanwhile, went at a faster pace of 3.5 percent in January 2022, from 3.4 percent in December 2021.
