3.8 % INFLATION RATE IN FEBRUARY SLOWEST FIGURE SINCE 2009 – PSA
Inflation rate hits 3.8 percent in February base from the data the Philippine Statistics Authority (PSA) revealed on Tuesday.
PSA compared it with the 4.4 percent reported in January and the 4.5 percent registered in February 2018.
According to PSA Assistant Secretary Jose Perez, the latest figure states the fourth consecutive deceleration after the recorded 6.7 percent in October 2018. It is also the fastest during the past nine years when the last data registered was 7.2 percent in February 2009.
Perez said the deceleration was the result of the drop in prices of food and non-alcoholic beverages; alcoholic beverages and tobacco; and transport. Concerning food and non-alcoholic beverages category, this includes the decrease in prices of rice, corn, meat, milk, cheese, eggs, fruits, and vegetables. While transport consists of the slowdown of prices in petroleum and fuel for personal transport equipment; domestic airfare and ferry ship fare.
Video Courtesy of Philippine Statistics Authority (PSA) Facebook Page