PH inflation further slows to 1.7% in August

To the common Filipino an inflation rate is simply understood as a barometer of whether or not the prices of basic commodities or goods will be higher or lower.

In another record setting fashion, the Philippine inflation rate went further down to 1.7 percent in August 2019, it is the its slowest pace in almost three years, as prices of food and non-alcoholic beverages continued to decline.

Philippine Statistics Authority (PSA) Undersecretary and National Statistician Claire Dennis Mapa in a presss briefing said that August 2019 ‘s inflation is the lowest inflation since October 2016’s 1.8 percent.

(photo credit to owner)

This brings the year-to-date inflation for 2019 to 3 percent.

Last July inflation rate was at a higher figure – 2.4 percent and in August 2018 at 6.4 percent.

The PSA undersecretary further adds that other commodity groups posted slower annual rates in August, which include housing, water, electricity, gas and other fuels; health; recreation and culture; and restaurant and miscellaneous goods and services.

“Unless there is a shock (in the coming months), we expect continuing decline or stabilizing at that level,” UnderSecretary Mapa told mediamen.

This is to show that the Duterte Administration is not only focused on the war on drugs, but specially concern for the country’s economy and for the common Filipino’s welfare.

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Report from PNA