MANILA, Philippines — The country’s headline inflation stayed at 4.5 percent in April due to slower movements in the prices of commodities, the Philippine Statistics Authority (PSA) said Wednesday.
PSA chief and national statistician Claire Dennis Mapa said last month’s figure is the same annual growth rate recorded in March but quicker than 2.2 percent registered in April 2020.
Mapa said the figure brought the average inflation at the national level from January to April 2021 to 4.5 percent, still within the forecast range of 4.2 to 5.0 percent of the Bangko Sentral ng Pilipinas (BSP).
“The latest outturn is consistent with expectations that inflation would remain elevated this year, owing to supply-side pressures, before settling close to the midpoint of the target range in 2022,” BSP Governor Benjamin Diokno said in a statement.
The PSA said that varied annual growth rates in the indices of the commodity groups were observed in April 2021.
Annual increases were higher in the indices of the following commodity groups in April 2021:
• Housing, water, electricity, gas, and other fuels with 1.5 percent
• Furnishing, household equipment, and routine maintenance of the house with 2.1 percent
• Health with 3.1 percent
• Transport with 17.9 percent
• Communication, 0.3 percent
• Restaurant and miscellaneous goods and services, 3.4 percent
On the other hand, inflation slowed down in the indices of food and non-alcoholic beverages at 4.8 percent; and alcoholic beverages and tobacco at 12.0 percent, the PSA said.
The rest of the commodity groups retained their respective previous month’s annual growth rates, it added.
The PSA also said that annual rates went down in the indices of rice and vegetables at -0.3 percent and -2.6 percent, respectively.
Moreover, annual hikes slowed down in the indices of other cereals, flour, cereal preparation, bread, pasta and other bakery products at 1.8 percent; milk, cheese, and egg, 1.4 percent; fruits, 0.3 percent; and food products not elsewhere classified, 0.5 percent.
However, annual rates picked up further in the indices of corn at 3.1 percent; meat, 22.1 percent; and fish, 6.0 percent.
The indices of oils and fats; and sugar, jam, honey, chocolate, and confectionery moved at their corresponding previous month’s annual growth rates of 3.9 percent and 0.3 percent, the PSA added.