Inflation slows to 4.5% in March on milder uptick in food, non-alcoholic drinks’ prices – PSA
LESS expensive food and transportation items slowed inflation to 4.5 percent in March, according to the Philippine Statistics Authority (PSA).
In a briefing on Tuesday, National Statistician Claire Dennis S. Mapa said inflation in March was slower than the 4.7 percent posted in February. However, it was higher than the 2.5 percent posted in March last year.
Data also showed inflation averaged 4.5 percent in the January to March period. This is higher than the 2.7 percent average in the same period last year.
“Ang pangunahing dahilan ng pagbaba ng antas ng inflation nitong Marso 2021 ay ang mas mabagal na paggalaw ng presyo ng Food and Non-Alcoholic Beverages na may 91.6-percent share sa pagbaba ng presyo [The primary reason for the slowdown of inflation in March 2021 was the slower increase in prices of Food and Non-alcoholic beverages which accounted for 91.6 percent of the slowdown in prices],” Mapa said in a briefing.
PSA said the heavily-weighted food and non-alcoholic beverages posted an inflation of 5.8 percent in March 2021, slower than the 6.7 percent inflation in February 2021.
Data also showed that inflation for alcoholic beverages and tobacco averaged 12.1 percent; furnishing, household equipment and routine maintenance of the house, 1.9 percent; communication, 0.2 percent; and restaurant and miscellaneous goods and services, 3.1 percent.
Meanwhile, inflation in Metro Manila or the National Capital Region slowed to 3.7 percent in March 2021 from 4.1 percent in February 2021. In March 2020, inflation in the area was noted at 1.7 percent.
Inflation in NCR was pushed down by the slower annual uptick in food and non-alcoholic beverages index at 5.7 percent in March 2021.
Slower inflation was also recorded in alcoholic beverages and tobacco, 10.6 percent; clothing and footwear, 0.7 percent; housing, water, electricity, gas, and other fuels, 0.3 percent; furnishing, household equipment and routine maintenance of the house, 0.9 percent; and communication, 0.1 percent.
However, higher inflation was observed in health at 2.9 percent; transport, 16.3 percent; and restaurant and miscellaneous goods and services, 1.1 percent.
The other commodity groups, namely, recreation and culture, and education moved at their previous month’s annual rates of -0.4 percent and 0.5 percent, respectively.