Inflation slows down in January 2019

Published by rudy Date posted on February 23, 2019

by Czeriza Valencia (The Philippine Star) – Feb 23, 2019

MANILA, Philippines — Growth in consumer prices for the country’s poorest households eased further in January as prices of food and utilities grew slower, the Philippine Statistics Authority (PSA) reported yesterday.

Inflation for the bottom 30 percent income households slowed to 5.9 percent in January from 7.2 percent in December 2018, tracking the slowdown to 4.4 percent of the headline rate in January from 5.1 percent last December.

This was the slowest growth in the headline rate since inflation hit 4.3 percent in March 2018.

PSA attributed the continued deceleration to the slower growth in the indices of beverages and tobacco; housing and repairs, fuel, light and water; and services.

For the food index alone, growth eased further to 5.8 percent in January from 7.1 percent in December 2018.

Inflation for the poorest households in the National Capital Region (NCR) decelerated further to four percent in January 2019 from 4.8 in the previous month.

Slower growth was seen across all commodity groups and a decline was seen in the index of housing repairs.

The food index for this economic subgroup in Metro Manila eased to 3.2 percent in January from 3.6 percent in December 2018.

Negative growth was seen in the indices of rice and corn while slower growth was seen in the indices of eggs, fish, meat and miscellaneous foodstuff.

On the other hand, upticks were seen in the indices of dairy products, as well as fruits and vegetables.

In areas outside NCR, inflation for the bottom 30 percent income households slowed further to 5.9 percent in January from 7.3 percent in the previous month.

Slower growth was seen in the indices of food, beverages and tobacco; fuel, light, and water; and services.

All regions registered slower inflation growth for poor households, with the lowest annual growth rate of 2.7 percent seen in Autonomous Region in Muslim Mindanao (ARMM). The highest growth, meanwhile, was still seen in Mimaropa region.