Illustrative image (Source: zdnet.com) (VNA) –
The Philippines' headline inflation further slowed down to 2.2 percent in April, from 2.5 percent in the previous month, the Philippine Statistics Authority (PSA) said on May 5.
According to the PSA, contributing to the downtrend in the headline inflation in April was the further decrease in the annual rate of transport index at 6.1 percent –the lowest inflation recorded in this group's index since October 2015.
April is the first full month that the Philippines imposed the strict quarantine measures in the plenty of provinces and cities since mid-March to stem the spread of COVID-19. Under strict quarantine, public transportation is suspended.
In addition, the PSA said slower annual mark-ups were seen in the indices of commodity groups such as clothing and footwear, 2.6 percent; housing, water, electricity, gas, and other fuels, 0.3 percent; health, 2.8 percent; and restaurant and miscellaneous goods and services, 2.4 percent.
The indices of the rest of the commodity groups such as furnishing, household equipment and routine maintenance of the house, recreation and culture, and education retained their previous month's annual growth rates, the PSA said./.