SunStar March inflation eases to 4.5%
SLOWDOWN. Central Visayas is one of the areas outside the National Capital Region that exhibited a slow down in inflation at 1.5 percent in March 2021. / SUNSTAR FILE
+ April 06, 2021 THE country’s inflation rate has eased to 4.5 percent in March 2021 after five consecutive months of acceleration.
This brings the average inflation of the country for the first quarter of 2021 at 4.5 percent, the Philippine Statistics Authority on Tuesday, April 6, 2021, said.
The slowdown in inflation at the national level was primarily due to the lower annual increment registered in the heavily-weighted food and non-alcoholic beverages at 5.8 percent in March 2021, from 6.7 percent inflation in February 2021.
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By
Researcher
INFLATION eased in March after five straight months of acceleration, as food prices increased at a slower pace, the government’s statistical agency reported on Tuesday.
Preliminary data from the Philippine Statistics Authority (PSA) showed headline inflation at 4.5% in March, slowing from the year-on-year rate of 4.7% in February. However, this was still above the 2.5% recorded in March last year.
The latest headline figure is lower than the 4.8% median in a
BusinessWorld poll conducted late last week and falls within the 4.2%-5% estimate given by the Bangko Sentral ng Pilipinas (BSP) for March.
Year-to-date inflation settled at 4.5%, beyond the BSP’s 2-4% target this year and above the forecast of 4.2% for the entire year.