Inflation Rate Continue to Exhibit Slower Pace in May 2020

Reference Number: 

PR-2020-009

Release Date: 

Tuesday, June 16, 2020

Body: 

The headline inflation at the regional level continued to exhibit a slower pace of 2.0 percent in May 2020. Inflation rate was higher in April 2020 at 2.5 percent and in May 2019 at 3.6 percent.

All the provinces showed lower annual growths following the trend of the region. The lowest inflation was seen in Batanes at -1.4 percent while the highest is Nueva Vizcaya at 3.0 percent.

The slowdown was attributed to the annual drop recorded in the following commodities:

  • Food and Non-alcoholic beverages, 1.7 percent;
  • Clothing and footwear, 3.2 percent.
  • Transport, -8.0 percent; and
  • Restaurant and miscellaneous goods and services, 3.3 percent.

On the other hand, higher annual mark-ups were observed in the indices of alcoholic beverages and tobacco at 14.7 percent; housing, water, electricity, gas and other fuels        at 1.3 percent; furnishings, household equipment and routine maintenance of the house      at 3.4 percent; health at 3.7 percent; and, recreation and culture at 2.8 percent. The rest of the commodity groups retained their April 2020 annual growth rates.

 

 
MARILYN T. ESTRADA
Regional Director
 
 
//GMB/MLLP