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Inflation hits 30-month low in July

The country’s headline inflation rate decelerated further to 2.4% in July 2019, the lowest within the last 30 months, as prices of food stabilized.

Actual prices of food items in supermarkets, however, show an uptrend, with prices of dressed chicken going up to an average of P175 per kilo from P125 per kilo over the last two weeks.

But based on government estimates, price increases of food and non-alcoholic beverages slowed down further in July.

The Philippine Statistics Authority (PSA) said the July 2019 inflation was the lowest rate recorded since the 2.5% in January 2017. It was the same rate for July 2017.

The July 2019 rate was much slower than the 5.7% in July 2018 and 2.7% in June 2019.

Central Visayas region, which includes Cebu, registered the lowest inflation of 1.1% among the regions outside Metro Manila while MIMAROPA (Mindoro, Marinduque, Romblon and Palawan) posted the highest rate at 4.9%.

The PSA said most of the commodity baskets registered slower annual price increases, as follows:

  • Food and non-alcoholic beverages, 1.9%;

  • Alcoholic beverages and tobacco, 8.8%;

  • Housing, water, electricity, gas, and other fuels, 2.2%;

  • Furnishing, household equipment and routine maintenance of the house, 2.9%;

  • Health, 3.2%; and

  • Transport, 0.7%.

The indices of clothing and footwear, and education, on the other hand, showed faster increases of 2.6% and 4.2%, respectively.

The rest of the commodity groups retained their previous month’s annual rates, the PSA said. (Ventures Cebu)

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