Headline inflation

In April now 4.3%

CORTES, Bohol, May 18 (PIA)—Influenced by price movements of vegetables, seafood and fish as well as ready-made food and other food products owning up a 67.7 percent share in the upswing comprising the food and non-alcoholic beverages group, headline inflation in Bohol went up one point in April as against the 3.3 percent in March.

Despite of that, this month of the year proved even better still than the 7.4 percent headline inflation in April of 2023, shares Bohol Provincial Statistician Jessamyne Anne Alcazaren, during the Philippine Statistics Authority’s (PSA) monthly dissemination of the inflation trends in the country, region and in Bohol.

April, when Boholanos started to feel the stunted food affected by the El Nino could have been the reason why vegetables, tubers: the go to food continued to gain in prices, from -19.2 percent in March 2024 to -3.0 in April.

The heat, becoming a little bit stifling could have also continued its effects on fish and other sea food, whose prices behaved better in March at -5.6 to -0.7 in April.

Processed food and other food products which had a 5.6 percent inflation in March continued its uptrend with an 8.1 percent in April, the PSA survey showed.

Also largely contributing to the acceleration of the inflation in April is the uncontrollable behavior of prices in housing, water, electricity, gas and other fuels, which owns up a 28.2 percent share in the uptrend.

Housing, water, electricity, gas and other fuels registered a -0.8 percent from a -2.3 percent in March.

The erratic trend in fuels also helped the transport sector accelerate April’s inflation; with gasoline staking a -3.3 percent inflation in March going 0.0 percent in April and diesel with a -2.0 percent inflation in March to 1.8 percent in April.

While the above factors helped speed up inflation, food and non-alcoholic beverages, retaurants and accommodation services, as well as furnishings, household equipment and routine household maintenance generally contributed to the April 2024 inflation.

Owning up a 76.4 percent share in the inflation rate is food and non-alcoholic beverages at 8.4 percent.

Cereals and cereal products registered a 20.9 percent inflation than the previous month’s 21.1 percent, meat and other parts of slaughtered animals from 7.8 percent in March to 5.7 percent in April and Fuits and nuts from 11.5 in March to 8.5 in April.

For restaurants and accommodation services which showed a 7.7 percent share of the inflation in March, went 7.5 percent in April.

Restaurants, cafes and food hubs went from 7.5 percent in March to 7.0 in April, while accommodation services stayed at 13.3 in the last two months.

Furnishings, household equipment and routine household maintenance, which owns up a 4.3 percent share in the inflation registered 4.6 percent in April.

Goods and services for routine household maintenance went from 6.2 percent in March to 6.1 percent in April; Furniture, furnishings and loose carpets from 2.4 in March to 2.2 percent in April and Household appliances stayed at 0.7 percent inflation in the last two months, as to the PSA survey of prices. (PIABohol)