February inflation slows to 2.6% from January’s 2.9%

March 5, 2020

Inflation slowed to 2.6 percent in February from 2.9 percent in the previous month due to lower annual increase in the heavily-weighted food and non-alcoholic beverages index, the Philippine Statistics Authority (PSA) said Thursday

''Annual increments decelerated in the indices of alcoholic beverages and tobacco at 18.2 percent; housing, water, electricity, gas, and other fuels, 1.7 percent; and transport, 1.8 percent,'' said Undersecretary Claire Dennis Mapa, the national statistician, in a statement. 

Central bank governor Benjamin Diokno said February inflation was within its forecast range of 2.4 to 3.2 percent.

''The latest outturn  is consistent with the BSP (Bangko Sentral ng Pilipinas) prevailing assessment that inflation is expected to steadily approach the midpoint of the target range in 2022 and 2021,'' said Diokno in his Twitter account.

An increase of 3.5 percent was noted in the index of furnishing, household equipment and routine maintenance of the house, added PSA.

Inflation in NCR decelerated 2 percent. Its annual rate in January 2020 was higher at 2.7 percent and in February 2019, 3.8 percent, PSA said.

Inflation in areas outside NCR eased to 2.8 percent. It was recorded at 3 percent in the previous month, and 3.8 percent in the same month in 2019.

Bicol Region recorded the highest inflation outside the NCR at 3.6 percent. DMS