Inflation in the Philippines rose 4.4 percent in July, higher than previous month’s 3.7 percent, the Philippine Statistics Authority (PSA) said Tuesday, Aug. 6.
The uptick was mainly due to the higher costs of housing, water, electricity, gas and other fuels (from 0.1 percent to 2.3 percent).
The heavily-weighted food and non-alcoholic beverages also contributed to the uptrend of inflation (from 6.1 percent to 6.4 percent).
Higher inflation rates were also noted in the indices of transport (from 3.1 percent to 3.6 percent) and education services (from 3.8 percent to 5.8 percent) during the month.
The following commodity groups registered lower inflation rates:
-alcoholic beverages and tobacco
-clothing and footwear
-health
-recreation, sport and culture
-restaurants and accommodation services
Inflation, according to PSA, is the rate of price increases within a certain time. IMT
