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Philippine inflation slows down to 2.5 pct in March

Xinhua News,MANILA
2020-04-07 13:24

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The Philippines' headline inflation further slowed down to 2.5 percent in March 2020, from 2.6 percent in February 2020, the Philippine Statistics Authority (PSA) said on Tuesday.

Inflation in March 2019 was higher at 3.3 percent, the PSA added.

PSA Head Claire Dennis Mapa said the slowdown in inflation in March 2020 was primarily due to transport whose index dropped at an annual rate of 1.8 percent.

Slower annual increments in the indices of alcoholic beverages and tobacco at 18.0 percent; and housing, water, electricity, gas, and other fuels at 1.1 percent, also pushed down the inflation during the month, Mapa added.

On the other hand, he said higher annual increases were noted in the following commodity groups: food and non-alcoholic beverages, at 2.6 percent; furnishing, household equipment and routine maintenance of the house, 4.2 percent; communication, 0.5 percent; and recreation and culture, 1.6 percent.

The rest of the commodity groups retained their previous month's annual growth rates, Mapa said.
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