PHL July inflation accelerates to 3.2%

An uptrend in prices of most commodities pushed inflation faster at 3.2 percent last July from 2.8 percent in June, the National Statistics Office (NSO) reported Wednesday.

 

Year-on-year, last month’s inflation slipped from 4.9 percent.

 

NSO attributed the acceleration to higher prices in all commodity groups except in clothing and footwear, health, transport, and education indices.

 

Core inflation rate – which excludes food and energy items that are highly susceptible to changes – rose to 4.1 percent from 3.7 percent month-on-month.  

 

Inflation in the National Capital Region reached 3.1 percent from 2.2 percent month-on-month and from 2.7 percent year-on-year due to prices gains in most commodities except clothing and footwear, health, transport, and communication.

 

Outside NCR, inflation jumped 3.2 percent from 3 percent in June. “It resulted from higher annual upticks in the indices of food and non-alcoholic beverages; housing, water, electricity, gas, and other fuels; furnishing, household equipment and routine maintenance of the house; and recreation and culture,” NSO noted. — MJC/VS, GMA News