< List

PHILIPPINES’ INFLATION RATE INCREASES TO 3.7%

ImHenyo Writer
M
Jessica
2024.04.05
Likes 1
Views1231
Comments 0

According to the Philippine Statistics Authority (PSA), marking its second straight month of acceleration, the Philippines' inflation rate accelerated further in March amid faster increases in food and transportation costs.

 

As a result, the year-to-date inflation figure is at 3.3%, which is within the 2% to 4% government ceiling. It also fell inside the 3.4% to 4.2% predicted range for the time by the BSP.

Inflation rate in the Philippines rises (Photo courtesy of GMA News)

 

Once more, rice was the primary offender, with an inflation rate of 24.4%—faster than the 23.7% recorded in February. In addition, this was the grain staple's fastest inflation print in almost 15 years, having reached a high of 24.6% in February 2009.

 

The Food and Non-Alcoholic Beverages index, which is heavily weighted, had an inflation rate of 5.6% in March, up from 4.6% in February. This was the primary element influencing the overall inflation rise. A total of 76.4% of the month's increase in the inflation rate was attributable to the Food and Non-Alcoholic Beverages index.

 

The month-over-month increase in inflation in March was also fueled by quicker increases in the Transport index, which rose from 1.2% to 2.1%, and in Restaurants and Accommodation Services, which increased from 5.3% to 5.6%.

 

Inflation, which gauges the rate of increase in the prices of goods and services, accelerated to 3.7% in March 2024 from 3.4% in February 2024, according to Claire Dennis Mapa, chief statistician and PSA official.

 

But compared to March 2023, the rate of inflation last month was lower at 7.6%.

 

 

Source: James Relativo/Philippine Star

 

 

 

Be part of ImHenyo community!

Get featured by sharing your stories, news, and comments

Email us at [email protected]

Comments

NEWS

FUEL PRICES UP IN THIRD WEEK OF FEBRUARY N
M
Jessica
Views 22
Likes 1
2025.02.17
FUEL PRICES UP IN THIRD WEEK OF FEBRUARY
CASHLESS TOLL COLLECTION TO RESUME ON MARCH 15 – TRB N
M
Jessica
Views 28
Likes 1
2025.02.17
CASHLESS TOLL COLLECTION TO RESUME ON MARCH 15 – TRB
FORMER VP LENI ROBREDO’S X ACCOUNT HACKED TO PROMOTE CRYPTO N
M
Jessica
Views 15
Likes 1
2025.02.17
FORMER VP LENI ROBREDO’S X ACCOUNT HACKED TO PROMOTE CRYPTO
PAGASA WARNS AGAINST FLASH FLOODS AND LANDSLIDES, RAINS TO PREVAIL N
M
Jessica
Views 32
Likes 1
2025.02.17
PAGASA WARNS AGAINST FLASH FLOODS AND LANDSLIDES, RAINS TO PREVAIL
PHIVOLCS LOGS MINOR PHREATIC ERUPTION AT TAAL VOLCANO N
M
Jessica
Views 32
Likes 1
2025.02.17
PHIVOLCS LOGS MINOR PHREATIC ERUPTION AT TAAL VOLCANO
QUEZON CITY DECLARES DENGUE OUTBREAK
M
Jessica
Views 44
Likes 1
2025.02.15
QUEZON CITY DECLARES DENGUE OUTBREAK
BOC SEIZES SMUGGLED LUXURY CARS WORTH P1.4B IN PASAY, PARAÑAQUE
M
Jessica
Views 38
Likes 1
2025.02.15
BOC SEIZES SMUGGLED LUXURY CARS WORTH P1.4B IN PASAY, PARAÑAQUE
GOVERNMENT WARNS PUBLIC AGAINST LOVE SCAMS TARGETING PINOYS
M
Jessica
Views 47
Likes 1
2025.02.15
GOVERNMENT WARNS PUBLIC AGAINST LOVE SCAMS TARGETING PINOYS
MAGNITUDE 5.6 EARTHQUAKE SHOOK EASTERN SAMAR FRIDAY NIGHT
M
Jessica
Views 63
Likes 1
2025.02.15
MAGNITUDE 5.6 EARTHQUAKE SHOOK EASTERN SAMAR FRIDAY NIGHT
PHILIPPINES CURLING TEAM WINS FIRST ASIAN WINTER GAMES GOLD MEDAL
M
Jessica
Views 63
Likes 1
2025.02.14
PHILIPPINES CURLING TEAM WINS FIRST ASIAN WINTER GAMES GOLD MEDAL
PCSO DISMISSES BREACH REPORT ON DATABASE OF LOTTO WINNERS
M
Jessica
Views 38
Likes 1
2025.02.14
PCSO DISMISSES BREACH REPORT ON DATABASE OF LOTTO WINNERS
DEPED EYES OVER 15,000 TEACHERS TO FILL SHORTAGE OF SCHOOL PRINCIPALS
M
Jessica
Views 47
Likes 1
2025.02.14
DEPED EYES OVER 15,000 TEACHERS TO FILL SHORTAGE OF SCHOOL PRINCIPALS
CLOUDY SKIES, RAINS IN PARTS OF PH ON VALENTINE’S DAY
M
Jessica
Views 42
Likes 1
2025.02.14
CLOUDY SKIES, RAINS IN PARTS OF PH ON VALENTINE’S DAY
47 NEW HIV CASES RECORDED PER DAY IN Q4 OF 2024 – DOH
M
Jessica
Views 45
Likes 1
2025.02.14
47 NEW HIV CASES RECORDED PER DAY IN Q4 OF 2024 – DOH
DOC WILLIE ONG WITHDRAWS FROM SENATE RACE
M
Jessica
Views 66
Likes 1
2025.02.13
DOC WILLIE ONG WITHDRAWS FROM SENATE RACE
1 2 3 4 5