The Impact Of Inflation To Low-Income Families Lessened
INFLATION IMPACT – The impact of inflation to low-income families reportedly alleviated in March of this year, according to PSA.
Based on a previous report, the inflation rate has been steadily decreasing in the first quarter of this year. Going from 5.1% in the last month of 2018 to 4.4% in January 2019 and 3.8% in February.
In a national scope, the financial impact of inflation to the lower 30% income households alleviated to 4.6% in March coming from the 5% in Febraury’s record and 5.8% last year.
Since the beginning of this year, the increase of prices for poor families were at an average of 5.1%.
This is according to an article from Philstar.
Inflation rate for the lower 30% income section within the NCR or the National Capital Region was also reportedly decreasing from 2.9% in February to 2.3% in March of 2019.
Outside the National Capital Region, inflation rate for the lower-income generating households went down to 4.6% from 5% in the same time span (February to March).
Philippines Statistics Authority explained the downward trend of inflation in their statement:
“The main contributor to the downtrend of the country’s inflation was the heavily-weighted food, beverages and tobacco index, which slowed down further to 4.9% during the month.”
However, higher yearly increases have been observed in the indices of these commodities: clothing, fuel, light and water and services.
The Philippines’ remarkable 3.3% inflation rate in March was much lower than the recorded 3.8% in February and 4.3% last year.
The latest record for this year is the fifth consecutive month that the price spikes continuously lowers down.
According to the Philippine Statistics Authority, it is also the lowest-ever recorded inflation rate in the country since January of 2018.
That is all there is to it, at least for now. We’ll post updates as soon as we got them.