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NEWS SNIPPETS & MORE

Economy |Real Estate: Breaking News, Top Headlines and Updates

Inflation eases to 2.4 percent in August

9/4/2020

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By: Cathrine Gonzales - Inquirer.net
Published: September 04,2020 - 12:49 PM
Full Article: Inflation eases to 2.4 percent in August
Snippets: MANILA, Philippines — The country’s headline inflation eased to 2.4 percent in August from 2.7 percent in July, the Philippine Statistics Authority (PSA) said Friday, September 4, 2020.

The latest figure brings the year-to-date inflation for 2020 at 2.5 percent, according to PSA’s report released Friday.

In August 2019, inflation was lower at 1.7 percent.

“The slowdown in inflation in August 2020 was primarily due to the deceleration in the inflation for the heavily-weighted food and non-alcoholic beverages which slid at an annual rate of 1.8 percent during the period, from 2.4 percent in the previous month,” PSA said.

The actual inflation reported by PSA was slightly lower than the forecast of the Bangko Sentral ng Pilipinas for August. BSP Governor Benjamin Diokno earlier said the agency’s Department of Economic Research projects the inflation rate to settle within the 2.5 to 3.3 percent range for the month.

The central bank earlier projected a slight increase in inflation mainly due to recovering petroleum prices after a sharp decline due to low demand during community quarantines.

According to the PSA, the indices of the following commodity groups also posted lower inflation during the month: alcoholic beverages and tobacco at 17.7 percent; clothing and footwear at 1.9 percent, furnishing, household equipment, and routine maintenance of the house at 3.9 percent; education at 0.1 percent; and restaurant and miscellaneous goods and services at 2.3 percent.

“Contributing also to the deceleration in the overall inflation was recreation and culture whose index exhibited an annual decline of -0.1 percent during the period, from an annual gain of 1.1 percent in the previous month,” PSA noted.
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  • Home
  • CEBU REAL ESTATE
    • Real Estate FAQ
  • CEBU CONDO FOR SALE
    • ROBINSONS LAND >
      • AmiSa
      • Azalea Place
      • Galleria Residences
    • HONGKONG LAND >
      • Mandani Bay
    • CEBU LANDMASTERS >
      • Base Line Premier
      • Mivesa Garden Residences
    • DMCI HOMES
    • AYALA LAND >
      • Amaia Steps Mandaue
      • Avida Towers Riala
      • Solinea
    • TAFT PROPERTIES >
      • Horizons 101
      • Taft East Gate Cebu
      • Soltana Nature Residences
      • Symfoni Nichols
    • MEGAWORLD >
      • One Manchester Place
      • One Pacific Residences
  • HOUSE AND LOT
    • AMARA LILOAN
    • ASPEN HEIGHTS CONSOLACION
    • PARAMOUNT PROPERTIES >
      • La Cresta Hills Carcar
      • La Cresta Homes Carcar
      • Fonte di Versailles Minglanilla
      • Francesca Highlands Minglanilla
      • Mazari Cove Naga City
      • Segovia South Villas Carcar
      • The Links Mactan
      • Wellington Greens Compostela
  • CONTACT
    • About Us
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