April 2010 inflation steady at 4.4%
Davao City (7 May) -- The April 2010 headline inflation stayed at 4.4 percent despite double-digit increases in fuel, light and water rates,, based on the preliminary report from the National Statistics Office (NSO).
This brings the average inflation from January to April this year to 4.3 percent, or within the target of 3.5 to 5.5 percent for 2010 set by the Development Budget Coordination Committee.
Core inflation, on the other hand, marginally increased to 3.9 percent in April from the revised 3.8 percent last March, according to the NSO.
"Slower increases in the prices of food, beverage and tobacco (3.1%) in April helped level inflation brought about primarily by the 5.8 percent increase in non-food items," Acting Socioeconomic Planning Secretary and NEDA Director-General Augusto B. Santos said in a memorandum for the President.
Fuel, light and water (17.8%) accounted for a large part of the increase in prices over the previous year. Santos noted that electricity inflation by 10.3 percent in April compared to March prices.
"Meralco, the country's most prominent electricity distributor, attributed a large part of the increase in power rates during the month to higher prices of electricity purchased from the Wholesale Electricity Spot Market (WESM)," Santos said.
The NSO also reported that inflation rate outside Metro Manila remained unchanged at 4.1 percent from last month and lower than 5.8 percent last year.
The inflation rate for NCR meanwhile was higher at 5.3 percent in April compared to March 2010 of 5.0 percent and 2.2 percent same month last year. (PIA) [top]