The slowdown in the overall inflation was mainly due to the lower annual increase in housing, water, electricity, gas and other fuels at 4.5 percent from 5.1 percent in the previous month, PSA head Dennis Mapa said in an online briefing.
On the other hand, he said annual increases were higher in other sectors including clothing and footwear, at 2.0 percent, furnishing, household equipment and routine household maintenance, at 2.4 percent, and transport, at 7.0 percent.
The PSA officially shifted from the 2012-based to the 2018-based consumer price index by computing the January 2022 headline inflation number, "rebasing" the inflation series every six years.
"This ensures that inflation captures the most relevant basket of goods and services which better reflect the consumption pattern of the average Filipino household," Socioeconomic Planning Secretary Karl Kendrick Chua said.
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