Since December 2018, the PSA has had the highest inflation rate.
MANILA, Philippines โ Inflation rose to 5.4 percent last month from 4.9 percent in April, according to the Philippine Statistics Authority (PSA).
Inflation was at its highest level since December 2018, according to data released by the PSA on Tuesday.
“Inflation was lower in May of the prior year, at 4.1 percent,” according to the research.
The PSA ascribed the acceleration to higher yearly growth rates in the food and non-alcoholic beverage index (4.9 percent) as well as the transportation index (4.9 percent) (14.6 percent).
“Alcoholic beverages and tobacco (6.8%); apparel and footwear (2.1%); recreation, sport, and culture (1.7%); and personal care, and other products and services (2.5%) all contributed to the headline inflation trend,” it said.
Housing, water, electricity, gas, and other fuels (6.5 percent) had lower inflation than furnishing, domestic equipment, and routine household maintenance (2.5 percent).
Food inflation jumped to 5.2 percent in April 2022, up from 4.0 percent in April 2022.
In May 2021, the food inflation stood at 3.7 percent.
“The other of the commodity groupings’ inflation rates remained unchanged from the previous month,” according to the PSA.
Inflation in the National Capital Region increased to 4.7 percent in April 2022 from 4.4 percent the previous month, while inflation outside the region increased to 5.5 percent from 5.1 percent the previous month.
Save/Share this story with QR CODE
Disclaimer
This article is for informational purposes only and does not constitute endorsement of any specific technologies or methodologies and financial advice or endorsement of any specific products or services.
๐ฉ Need to get in touch?
๐ฉ Feel free to Contact NextGenDay.com for comments, suggestions, reviews, or anything else.
We appreciate your reading. ๐Simple Ways To Say Thanks & Support Us:
1.) โค๏ธGIVE A TIP. Send a small donation thru Paypal๐โค๏ธ
Your DONATION will be used to fund and maintain NEXTGENDAY.com
Subscribers in the Philippines can make donations to mobile number 0917 906 3081, thru GCash.
3.) ๐ BUY or SIGN UP to our AFFILIATE PARTNERS.
4.) ๐ Give this news article a THUMBS UP, and Leave a Comment (at Least Five Words).
AFFILIATE PARTNERS
World Class Nutritional Supplements - Buy Highest Quality Products, Purest Most Healthy Ingredients, Direct to your Door! Up to 90% OFF.
Join LiveGood Today - A company created to satisfy the world's most demanding leaders and entrepreneurs, with the best compensation plan today.