INFLATION STEADY AT 2.9 PERCENT IN JANUARY


Country’s annual inflation settled at 2.9 percent in January matching the previous month’s rate after three months of acceleration (Photo courtesy of ABS-CBN News)
The Philippines’ annual inflation settled at 2.9 percent in January, which was the same level it was in December last year due to slight increases in prices of key food items and transport costs, the Philippine Statistics Authority said.
However, the January 2025 clip was slightly higher than the 2.8 percent rate seen in the same month in 2024. This was also within the Bangko Sentral ng Pilipinas' forecast range of 2.5 to 3.3 percent for the month.
National Statistician Dennis Mapa said faster annual increases were seen in the indices of food and non-alcoholic beverages at 3.8 percent from 3.4 percent; alcoholic beverages and tobacco at 3.5 percent from 3.1 percent; and transport at 1.1 percent from 0.9 percent.
The faster annual increase in fish and other seafood, and meat also contributed to the higher food inflation.
Data provided by the Philippine Statistics Authority showed that the average price of regular milled rice went down to PHP48.25 per kilogram in January this year from PHP49.65 per kg. in January 2024.
The average price of well-milled rice, likewise, decreased to PHP54.14 per kg from PHP54.91 per kg, while special rice also declined to PHP63.13 from PHP63.90 per kg in January last year.
The PSA noted that rice prices fell 2.3 percent year-on-year in January, after an annual increase of 0.8 percent in November. Other food items like corn, flour, fruits and nuts also registered slower increases in the first month of 2025. This offset faster increases in vegetables, tubers, oils and fats and other food items.
"The Philippines’ steady inflation rate is a positive indicator of the government’s commitment to ensure more stable prices in line with the targets of the Philippine Development Plan (PDP) 2023-2028," the National Economic and Development Authority (NEDA) said in a statement.
Source: Philippine News Agency
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