By Christine Fabro
The Philippine Statistics Authority (PSA) reported Friday, May 5, that inflation further slowed down to 6.6% in April 2023 from 7.6% in March.
This brings the average inflation rate from January to April 2023 to 7.9%.
According to PSA, the latest inflation rate is caused by a slowdown in the inflation of heavily weighted food and non-alcoholic beverages, which recorded a lower inflation rate of 7.9% from 9.3% in the previous month.
Transport was the second top contributor with an inflation rate 2.6% from 5.3% in March, while housing, water, electricity, gas, and other fuels were the third primary driver in the inflation slowdown at 6.5%.
Meanwhile, higher inflation rates were observed in the following commodity groups:
- Alcoholic beverages and tobacco: 12.7%
- Clothing and footwear: 5.1%
- Health: 4.1%
- Recreation, sports, and culture: 4.7%
- Restaurants and accommodation services: 8.6%
- Personal care, and miscellaneous goods and services: 5.7%
President Ferdinand R. Marcos Jr. said the government continues to monitor and address the causes of inflation.
“Nananatili tayong nakatutok sa ating mga hakbang na naglalayong mapagaan ang pang araw-araw na suliranin ng ating mga kababayan at matiyak ang mas maginhawang bukas para sa lahat,” the President said in a Twitter post. -ag
Patuloy ang pagbaba ng inflation rate sa bansa na naitalang nasa 6.6% nitong Abril mula sa 7.6% noong Marso.
Nananatili tayong nakatutok sa ating mga hakbang na naglalayong mapagaan ang pang araw-araw na suliranin ng ating mga kababayan at matiyak ang mas maginhawang bukas para… pic.twitter.com/LRDxYQrPNx
— Bongbong Marcos (@bongbongmarcos) May 5, 2023
