June Inflation at 2.7%, lowest since September 2017

July 5, 2019

Inflation in June slowed down to 2.7 percent from 3.2 percent in May, the slowest since September 2017, the Philippine Statistics Authority ( PSA) said Friday

The slowdown of inflation ''was mainly driven by slower annual rate posted in the index of the heavily-weighted food and non-alcoholic beverages at 2.7 percent,'' the PSA said.

'Also contributing were slower annual increments in the indices of the following commodity groups: alcoholic beverages and tobacco, 9.3 percent; housing, water, electricity, gas, and other fuels, 3 percent; furnishing, household equipment and routine maintenance of the house, 3.1 percent; transport, 1.6 percent; and communication, 0.3 percent.

Higher annual rates were registered in the indices of health at 3.7 percent; and recreation and culture, 3.2 percent.  

Excluding selected food and energy items, core inflation exhibited a slower pace of 3.3 percent. In the previous month, core inflation was registered at 3.5 percent and in June 2018, 4.3 percent 

A lower annual hike of 2.6 percent was noted in the country’s food index. Its annual rate in May 2019 was higher at 3.2 percent and in June 2018, 5.8 percent.

Annual changes in the indices of rice and corn dropped further by 1.7 percent and   4 percent, respectively.

Inflation in NCR moved at a slower pace of 3 percent from  3.4 percent in May.

Among regions Mimaropa (Mindoro, Marinduque, Romblon and Palawan) posted the highest inflation rate of 5.2 percent while the lowest was in  the Zamboanga Peninsula at 0.7 percent. DMS