Manila, Philippines – The National Statistics Office (NSO) reported that the inflation rate went up in July due to the increase in prices of some commodities.
“The Philippine’s annual headline inflation rate increased to 3.2 percent in July from 2.8 percent in June. This was due to higher annual increments registered in all the commodity groups except those in clothing and footwear, health, transport, and education indices. Inflation a year ago was 4.9 percent,“ said NSO Administrator Carmelita Ericta.
Core inflation also rose 4.1 percent in July from 3.7 percent in June, with the exception of selected food and energy items.
Inflation in the National Capital Region (NCR) jumped to 3.1 percent in July from 2.2 percent in June. Except in clothing and footwear, health, transport, communication, and education indices, all the commodity groups posted higher annual gains. Annual inflation in areas outside NCR grew 3.2 percent in July from three 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,“ said Ericta. (Czarina Nicole O. Ong)