Inflation remains at 3% in February: PSA
Inflation remained at 3 percent in February as it recorded the same annual growth rate as in January. Inflation during the same time last year was posted at 4.2 percent.
Faster annual increases were observed in the indices of housing, water, electricity, gas, and other fuels at 4.8 percent; transport, 8.8 percent; and recreation, sport, and culture at 1.6 percent.
On the other hand, slowdowns were observed in the indices of the following commodity groups:
a. Food and non-alcoholic beverages, 1.2 percent;
b. Alcoholic beverages and tobacco, 4.7 percent;
c. Clothing and footwear, 1.9 percent;
d. Furnishing, household equipment and routine household maintenance, 2.3 percent;
e. Health, 2.7 percent;
f. Information and communication, 0.6 percent; and
g. Restaurants and accommodation services, 2.9 percent.
The rest of commodity groups retained their previous month’s inflation rates.
Inflation for food decelerated to 1.1 percent in February, from 1.6 percent in the previous month. In February 2021, food inflation was observed at 6.8 percent.
Among food groups, annual decreases during the month were recorded in the fruits and nuts’ index at -4.9 percent; and vegetables, tubers, plantains, cooking bananas and pulses at -8.4 percent.
In addition, inflation decelerated in meat and other parts of slaughtered land animals to 1.4 percent; fish and other seafood to 2.9 percent; and milk, other dairy products, and eggs to 0.7 percent. The rest of the food groups registered faster annual increases.
Inflation in National Capital Region moved at a faster rate of 1.9 percent in February, from 1.3 percent in January. In February 2021, inflation in the area stood at 3.2 percent.
The uptrend was brought about by the higher annual growth rates in the indices of furnishing, household equipment and routine household maintenance at 2.2 percent; transport at 7.9 percent; information and communication at 0.6 percent; restaurants and accommodation services at 3.7 percent; and personal care, and miscellaneous goods and services, 1.4 percent.
On the other hand, slower annual growths were recorded in the indices of alcoholic beverages and tobacco at 4 percent; housing, water, electricity, gas, and other fuels at 3.6 percent; and health at 1.4 percent.
Index for food and non-alcoholic beverages decreased at a slower rate of -1.6 percent.
Inflation in Areas outside NCR, on the other hand, slowed down to 3.4 percent in February, from 3.5 percent in January.
Inflation in these areas in February 2021 was posted at 4.4 percent.
The downtrend of inflation in the area was due to the slower annual increases in the indices of the following commodity groups:
a. Food and non-alcoholic beverages with 1.7 percent;
b. Alcoholic beverages and tobacco, 4.8 percent;
c. Clothing and footwear, 2.2 percent;
d. Health, 2.9 percent;
e. Information and communication, 0.7 percent; and
f. Restaurants and accommodation services, 2.7 percent. PSA
