PHL inflation rate accelerated to 3.8% in April: PSA

(Eagle News)–The Philippines ‘ headline inflation increased to 3.8% in April, the Philippine Statistics Authority said on Tuesday, May 7.

Based on PSA data, this was 0.1 percent higher than the 3.7% registered in March.

The PSA said the uptrend in the overall inflation was primarily influenced by the “higher year-on-year increase in the heavily-weighted food and non-alcoholic beverages at 6.0 percent during the month from 5.6 percent in March 2024.”

The faster annual growth rate of the transport index– at 2.6 percent from 2.1 percent in March—also contributed to the uptrend of the overall inflation, the PSA said.

A higher inflation rate was also noted in information and communication, at 0.5 percent from 0.4 percent in March 2024.

Meanwhile, the following commodity groups registered a lower rate of inflation:

a. Alcoholic beverages and tobacco, 4.9 percent from 6.7 percent;

b. Housing, water, electricity, gas and other fuels, 0.4 percent from 0.5 percent;

c. Furnishings, household equipment and routine household maintenance, 3.1 percent from 3.2 percent;

d. Health, 3.0 percent from 3.2 percent;

e. Recreation, sport and culture, 3.8 percent from 3.9 percent;

f.  Restaurants and accommodation services, 5.4 percent from 5.6 percent; and

g. Personal care, and miscellaneous goods and services, 3.5 percent from 3.6 percent.

According to the PSA, inflation, on the other hand, in Metro Manila decelerated to 2.8 percent in April  from 3.3 percent in the  month before that.

Overall inflation in areas outside of Metro Manila, meanwhile, showed an uptrend in inflation—at 4.1 percent  from 3.8 percent in March.