RP’s inflation rate drops anew in January
Even in the midst of a global crisis, the country’s inflation rate drops further in January this year.
In an online report, it showed that the country’s year-on-year headline inflation rate further dropped to 7.1 percent last month from 8 percent in December last year. The inflation rate in January was the lowest since March last year.
The lower prices of fuel and transportation and communication services, and slower increases in the prices of most commodity groups accounted for the continued slowdown of inflation in January.
Meanwhile, month-on-month headline inflation turned positive in January at 0.3 percent after being negative for four consecutive months, the report said.
The slower year-on-year increases in the prices of fruits and vegetables and cereal preparation drove food inflation lower, while the rollbacks in the pump prices of petroleum products kept fuel, and pushed transportation and communication services, inflation in negative territory. (PIA)
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