July 2022 inflation accelerates to 6.4%

By Alec Go

 

Inflation in the Philippines accelerated to a new high of 6.4% in July 2022, up from the 6.1% in June 2022 and the highest since October 2018, according to the Philippine Statistics Authority (PSA).

Based on the latest PSA report, the year-to-date inflation rate stands at 4.7%.

The upward trend was mainly attributed to higher annual growth at 6.9% in the index for food and non-alcoholic beverages and transport at 18.1%.

Also factored in were the higher annual increments in certain commodity groups including clothing, household equipment, sports and recreation, restaurants and accommodation, and personal care services.

Food inflation also rose to 7.1% in July from 6.4% in the previous month, with fish and seafood inflation increasing to 9.2%, meat at 9.9%, and sugar products at 17.6%.

“On the other hand, the annual mark-up in the indices of housing, water, electricity, gas and other fuels; and health decreased to 5.7 percent and 2.4 percent, respectively,” the PSA noted.

The indices of information and communication, education services, and financial services, all maintained their inflation rates from their previous month’s rates,” it added.

For Metro Manila, the inflation decelerated to 5.1% from 5.6% in June. This is due to lower increases in housing, water, electricity, gas and other fuels index at 3.6%.

Areas outside NCR also posted an increase in inflation at 6.8%.

 

Popular

SSS to roll out 3-year pension hike starting September 2025

By Anna Leah Gonzales | Philippine News Agency State-run Social Security System (SSS) said it will implement a Pension Reform Program, which features a structured,...

DOE to talk with DSWD, DILG for Lifeline Rate utilization

By Joann Villanueva | Philippine News Agency The Department of Energy (DOE) is set to discuss with other government agencies the inclusion of more Pantawid...

Zero-billing for basic accommodation in DOH hospitals applicable to everyone —Herbosa

By Brian Campued The “zero balance billing” being implemented in all Department of Health (DOH)-run hospitals across the country is applicable to everyone as long...

DepEd committed to address classroom shortage

By Brian Campued Department of Education (DepEd) Secretary Sonny Angara on Wednesday emphasized the importance of Public-Private Partnerships (PPPs) in addressing the shortage of classrooms...