The Philippines' headline inflation further slowed down to 2.2 percent in April, from 2.5 percent in the previous month, the Philippine Statistics Authority (PSA) said on May 5.
Hanoi (VNA) - The Philippines'headline inflation further slowed down to 2.2 percent in April, from 2.5percent in the previous month, the Philippine Statistics Authority (PSA) saidon May 5.
According to the PSA, contributing to thedowntrend in the headline inflation in April was the further decrease in theannual rate of transport index at 6.1 percent –the lowest inflation recorded inthis group's index since October 2015.
April is the first full month that thePhilippines imposed the strict quarantine measures in the plenty of provincesand cities since mid-March to stem the spread of COVID-19. Under strictquarantine, public transportation is suspended.
In addition, the PSA said slower annualmark-ups were seen in the indices of commodity groups such as clothing andfootwear, 2.6 percent; housing, water, electricity, gas, and other fuels, 0.3percent; health, 2.8 percent; and restaurant and miscellaneous goods andservices, 2.4 percent.
The indices of the rest of the commoditygroups such as furnishing, household equipment and routine maintenance of thehouse, recreation and culture, and education retained their previous month'sannual growth rates, the PSA said./.
The Philippine economy is likely to experience the first annual contraction in more than two decades this year due to the COVID-19 pandemic before it pulls back up for a U-shaped recovery in 2021.
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The Philippines decided to suspend all incoming passenger flights for one week from May 3 to help reduce pressure on quarantine facilities which are housing thousands of Filipino repatriates.
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The Ministry of Commerce reported that imports also rose 18% to 29.9 billion USD during the same period, resulting in a trade surplus of 1.1 billion USD. In May alone, Thailand posted a 4.6 billion USD trade surplus with the US and a 4.1 billion USD trade deficit with China.
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Illustrative image (Source: zdnet.com) 
