Metro Manila (CNN Philippines, May 5) — Consumers received a big relief from rising prices as the inflation rate continued its downward trend, sliding to 6.6% in April, the Philippine Statistics Authority (PSA) reported Friday.
Data from the PSA showed inflation was slower last month than the 7.6% posted in March.
April’s inflation rate is within the 6.3% to 7.1% forecast range of the Bangko Sentral ng Pilipinas (BSP) for the month.During a briefing, National Statistician Dennis Mapa said food and non-alcoholic beverages were the major contributor to lower inflation last month, driven primarily by a slowdown in price increases of vegetables, fish, and meat.The dip in fuel prices, and in housing rentals, electricity, and water rates likewise helped tame inflation.The inflation rate in Metro Manila also slowed down to 7.1% in April versus the 7.8% a month prior, Mapa said.Outside the capital, meanwhile, inflation fell to 6.5% from 7.5% in March.According to Mapa, Western Visayas recorded the highest inflation at 8.2%, while the Cordillera Administrative Region had the lowest inflation at 4.3%.The official also said all 16 regions in the Philippines posted cooler inflation last month.Asked if the downtrend would continue in the coming months, Mapa said the looming El Niño might affect food commodities.“We are tracking this on the production side,” he said. “May mga threats pa tayo (We still see threats) particularly caused by El Niño and its possible impact sa ating (in our) food basket.”
