January inflation climbs 4.2%, highest since February 2019
January inflation rose of 4.2 percent in January, the highest since February 2019, the Philippine Statistics Authority (PSA) said Friday.
The food and non-alcoholic beverages sector drove January inflation higher, especially prices of meat particularly pork, it added.
Inflation for food index at the national level jumped to 6.6 percent in January 2021, from 4.9 percent in December 2020, the PSA said.
Indices of meat and vegetables both registered double-digit annual increments of 17.1 percent and 21.2 percent, respectively, it added.
Faster annual increases were recorded in the indices of the following food groups: corn, 1.6 percent; other cereals, flour, cereal preparation, bread, pasta and other bakery products, 2.1 percent; fish 3.7 percent; oils and fats, 2.9 percent; and fruits, 9 percent.
The indices of rice; and milk, cheese and egg retained their corresponding previous month’s annual rates of 0.1 percent and 1.7 percent
Inflation in NCR rose to 4.3 percent in January 2021, from 3.2 percent in December 2020.
The 8.3 percent annual growth in food and non-alcoholic beverages index primarily pushed up the inflation in NCR.
Inflation in areas outside NCR went up to 4.2 during the month, from 3.7 percent in December 2020. Inflation in the area in January 2020 was posted at 3.0 percent. DMS
