The Philippine Statistics Authority (PSA) reported a higher inflation rate of 2.7 percent for July 2020, from June’s 2.5 percent, as the economic crunch due to the pandemic bore down on transport costs.

The latest reading brought year-to-date (January to July 2020) inflation to 2.5 percent.

The increase in inflation was mainly triggered by the jump of 6.3 percent in the transport index  in July.

Other categories also saw higher annual increases: alcoholic beverages and tobacco at 19.3 percent; housing, water, electricity, gas and other fuels at 0.8 percent; and restaurant and miscellaneous goods and services at 2.5 percent.

Inflation for the food index at the national level declined from 2.7 percent in June 2020 to 2.5 percent in July 2020. Jojo Mangahis