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  • Writer's pictureZiggurat Realestatecorp

Inflation Steady At 4.5% In April

Headline inflation at the country level was posted at 4.5 percent in April 2021, the same annual growth rate recorded in March 2021. This brings the average inflation at the national level from January to April 2021 to 4.5 percent. Meanwhile, inflation in April 2020 was registered at 2.2 percent.

Varied annual growth rates in the indices of the commodity groups were observed in April 2021.

Annual increases were higher in the indices of the following commodity groups in April 2021:

  • Housing, water, electricity, gas, and other fuels, 1.5 percent;

  • Furnishing, household equipment and routine maintenance of the house, 2.1 percent;

  • Health, 3.1 percent;

  • Transport, 17.9 percent;

  • Communication, 0.3 percent; and

  • Restaurant and miscellaneous goods and services, 3.4 percent.

On the other hand, inflation slowed down in the indices of food and non-alcoholic beverages at 4.8 percent; and alcoholic beverages and tobacco at 12.0 percent.

The rest of the commodity groups retained their respective previous month’s annual growth rates.

Excluding selected food and energy items, core inflation decelerated to 3.3 percent in April 2021, from 3.5 percent in the previous month. Core inflation in April 2020 was posted at 2.9 percent.

Inflation for food index at the country level decelerated to 5.0 percent during the month, from 6.2 percent in March 2021. In April 2020, inflation for food was seen at 3.4 percent.

Annual rates went down during the month in the indices of rice and vegetables at -0.3 percent and -2.6 percent, respectively.

Moreover, annual hikes slowed down in the indices of other cereals, flour, cereal preparation, bread, pasta and other bakery products at 1.8 percent; milk, cheese and egg, 1.4 percent; fruits, 0.3 percent; and food products not elsewhere classified, 0.5 percent.

On the other hand, annual rates picked up further in the indices of corn at 3.1 percent; meat, 22.1 percent; and fish, 6.0 percent. The indices of oils and fats; and sugar, jam, honey, chocolate and confectionery moved at their corresponding previous month’s annual growth rates of 3.9 percent and 0.3 percent.

Source: PSA

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