DOF Undersecretary Gil Beltran
MANILA – Rate of price increases decelerated further last March but transportation of basic goods and other important items should be ensured even with enhanced community quarantines declared around the country to fight the coronavirus disease 2019 (Covid-19), a finance official said.
In an economic bulletin released Wednesday, Department of Finance (DOF) Undersecretary Gil Beltran said month-on-month inflation registered another negative print at 0.08 percent last month from -0.16 percent in February.
This resulted in a slower inflation rate last March at 2.5 percent from the previous month’s 2.6 percent.
The main driver of the slower inflation last month was the transport index, which dropped by 1.8 percent year-on-year.
“Still, it is important that in this time of expanded community quarantine, the supply chain of basic goods and other necessary items, while subject to requirements of public health, should not be broken,” Beltran said.
He said inflation of non-food commodities slowed due to lower energy and utilities prices while average food prices posted faster rates.
Beltran further said core inflation, which excludes volatile food and oil items, also posted a slower rate of 3 percent from month-ago’s 3.2 percent “indicating easing inflation in the next few months.” (PNA)
