THE headline inflation rate further slowed down to 5.1 percent in December 2018, the Philippine Statistics Authority (PSA) announced in a press briefing Friday, January 4.
“This is the lowest annual rate since June 2018,” the agency said. The December figure is lower than the 6.0 percent recorded in November, 6.7 percent in September and October, 6.4 percent in August, 5.7 percent in July and 5.2 percent in June.
Six out of 11 major commodity groups, led by the food and non-alcoholic beverages index and the transport index, posted slower annual increases in December 2018.
Three major commodities retained their previous month’s annual rates. These were communication, 0.4 percent; recreation and culture, 3.2 percent; and education, -3.8 percent.
Higher annual increments were noted in the indices of clothing and footwear at 2.8 percent and health at 4.8 percent in December 2018.
The six commodity groups with lower increments were:
* Food and non-alcoholic beverages, 6.7 percent;
* Transport, 4.0 percent;
* Alcoholic beverages and tobacco, 21.7 percent;
* Housing, water, Eeectricity, gas and other fuels, 4.1 percent;
* Furnishing, household equipment and routine maintenance of the house, 3.8 percent; and
* Restaurant and miscellaneous goods and services, 4.3 percent.
Excluding selected food and energy items, core inflation also slowed down to 4.7 percent in December from 5.1 percent in November. (MVI/SunStar Philippines