Inflation drops to 1.8% in March

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Transcript

00:00The Philippine Statistics Authority, or PSA, recorded the country's continued decline

00:05in the inflation rate for the second straight month.

00:09Inflation slowed in March to 1.8 percent as prices and fuel costs fell.

00:16This was slower than the 2.1 percent recorded in February and 3.8 percent in January.

00:22PSA Undersecretary Dennis Mapa said the slower inflation rate was primarily due to slower

00:28price increases in food and beverages, as well as the fuel price rollbacks during the

00:34month.

00:35Rice prices showed a faster year-on-year decline at negative 7.7 percent in March, compared

00:41to a negative 4.9 percent annual decrease in February.

00:45This was the biggest percentage price decrease since March 2020.

00:50Meat price increases also slowed to 8.2 percent.

00:54Meanwhile, transport costs also declined due to the rollbacks in fuel prices.

00:59The PSA also said that from January to March, inflation averaged at 2.2 percent remains

01:05within the 2.4 percent target range set by economic managers.

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