By Chino Leyco
The country’s inflation rate eased last month amid cheaper food prices, the Philippine Statistics Authority (PSA) announced Thursday.
The headline inflation clocked in at 2.6 percent in February from 2.9 percent in January, and 3.8 percent in the same month in 2019.
The PSA said the downtrend in the inflation was mainly brought about by the slower annual increase in the heavily-weighted food and non-alcoholic beverages index at 2.1 percent.
In addition, the rate of price increases decelerated in the indices of alcoholic beverages and tobacco at 18.2 percent; housing, water, electricity, gas, and other fuels, 1.7 percent; and transport, 1.8 percent also helped in slowing Inflation.
The actual February inflation is within the Bangko Sentral ng Pilipinas’ forecast of 2.4 percent to 3.2 percent, and the government’s target of 2.0 percent to 4.0 percent.
In the first two-months of the year, the country’s inflation rate averaged at 2.75 percent.