{"id":162564,"date":"2018-05-04T06:08:59","date_gmt":"2018-05-04T10:08:59","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=162564"},"modified":"2025-01-30T08:30:25","modified_gmt":"2025-01-30T13:30:25","slug":"april-inflation-at-4-5","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2018\/05\/04\/april-inflation-at-4-5\/","title":{"rendered":"April inflation at 4.5%"},"content":{"rendered":"
\"The<\/a>
The PSA data showed reductions in commercial and municipal fisheries’ outputs of 6.89 percent and 1.05 percent, respectively, weighed down aggregate fisheries production in 2017. (PHOTO: Philippine Statistics Authority\/Facebook)<\/figcaption><\/figure>\n

MANILA<\/strong>\u00a0— The consumer price index in April this year further accelerated to 4.5 percent, faster than inflation in March of 4.3 percent and markedly more than April 2017\u2019s 3.2 percent.<\/p>\n

The Philippine Statistics Authority (PSA) reported Friday that higher price pressure last month can be attributed to increasing annual increments in the indices of commodity groups led by “sin products” — alcoholic beverages and tobacco — at 20 percent.<\/p>\n

Other commodity groups that contributed to higher inflation rate in April were transport at 4.9 percent; restaurant and miscellaneous goods and services at 3.<\/p>\n

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4 percent; housing, water, electricity, gas, and other fuels at 3 percent; furnishing, household equipment and routine maintenance of the house at 2.8 percent; health at 2.8 percent; clothing and footwear at 2.2 percent; and recreation and culture at 1.5 percent.<\/p>\n

On the other hand, PSA data showed that inflationary pressure on food eased to 5.5 percent in April 2018 from 5.7 percent in April 2017.<\/p>\n

\u201cThe April actual data is on the high side of our forecast of the month. At the same time, we note the deceleration of the seasonally adjusted month-on-month inflation,\u201d Bangko Sentral ng Pilipinas Governor Nestor Espenilla Jr. told reporters in a text message.<\/p>\n

The central bank made a \u201cslight upward revision\u201d of its inflation outlook early this week, forecasting inflation to range at 3.<\/p>\n

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9 to 4.7 percent.<\/p>\n

\u201cThese are relevant factors to consider at the policy review next week in determining the necessity and shape of a measured response to halt potential build up in inflationary expectations. Such expectations seem to be feeding off essentially cost-push price pressures that may be transitory in nature,\u201d Espenilla said.<\/p>\n

Meanwhile, Asian Development Bank (ADB) Director General for Southeast Asia Department Ramesh Subramaniam stated that the institution does not consider the current inflation level as a serious concern that may curtail the country\u2019s economic growth this year.<\/p>\n

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<\/p>\n

\u201cIf you compared the Philippines with couple of other countries in ASEAN, they also have the similar inflation levels,\u201d Subramaniam said in a media briefing here at the 51st Annual ADB Meeting.<\/p>\n

\u201cWe do not take this as a serious issue,\u201d he noted.<\/p>\n

\u201cPart of it is demand is growing. That\u2019s why, in relation with inflation, [it] is also growing. One builder is the Build Build Build Program. Because of infrastructure expansion, they lead to multiplier effects that has impact on inflation,\u201d Subramaniam explained.<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA\u00a0— The consumer price index in April this year further accelerated to 4.5 percent, faster than inflation in March of …<\/p>\n","protected":false},"author":33,"featured_media":116173,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[50563,50564],"class_list":["post-162564","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-april-inflation","tag-consumer-price-index","mauthors-kris-crismundo","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/162564","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=162564"}],"version-history":[{"count":1,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/162564\/revisions"}],"predecessor-version":[{"id":286988,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/162564\/revisions\/286988"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/116173"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=162564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=162564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=162564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}