Maybe you already know that I’ve been regularly posting updates each month about the inflation rate in the Philippines. The National Statistics Office (NSO) had recently released the information about the inflation rate in February 2012.
The data shows that the inflation rate in February 2012 is at 2.7% in the whole Philippines which is lower than the recorded inflation in January 2012 at 4.0%. This figure only means that the rise in prices of commodities and services have been slowed down in the previous month. You can see the comparison of the inflation rate in January and February in the following table.
Year-on-Year Inflation Rates, All Items, in %
|Feb 2012||Jan 2012||Year-to-date|
In addition, the inflation rates were also went down for NCR and AONCR in February compared in January 2012. There are several factors that maybe the cause why the inflation is lower in February than in January. One could be the low demand for consumer products because the school vacation is getting nearer and most people have cut down their spending on school-related items and services.
There were also no typhoons or other calamities that cause floods and ruin some farm lands and fisheries. We know that typhoons are so destructive that they can damage many crops and aquatic resources resulting to the increase in prices of rice, vesgetables, fruits, fish, and other basic food necessities.