{"id":11817,"date":"2025-05-07T07:09:51","date_gmt":"2025-05-07T05:09:51","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=11817"},"modified":"2025-05-07T07:09:51","modified_gmt":"2025-05-07T05:09:51","slug":"april-sees-inflation-dip-to-1-4","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2025\/05\/07\/april-sees-inflation-dip-to-1-4\/","title":{"rendered":"April Sees Inflation Dip to 1.4%"},"content":{"rendered":"

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\n<\/p>\n

By Aubrey Rose A. Inosante, <\/b>Correspondent<\/i><\/p>\n

HEADLINE INFLATION decelerated to its lowest in more than five years in April, due to a decline in food prices and transportation<\/span> expenses, as reported by the Philippine Statistics <\/span>Authority (PSA), providing the cen<\/span>tral bank the opportunity to further reduce rates.<\/span><\/p>\n

Initial data from the PSA indicated the consumer price index increased to 1.4% in April, down from 1.8% in March and 3.8% a year prior. <\/span><\/p>\n

The April figure was at the lower end of the Bangko Sentral ng Pilipinas<\/span>\u2019 (BSP) 1.3% to 2.1% prediction. It was also under the 1.8% median estimate in a BusinessWorld<\/i> survey of 14 analysts conducted last week.<\/span><\/p>\n

<\/a><\/p>\n

At 1.4%, this represents the lowest inflation in 65 months or since the 1.2% recorded in November 2019.<\/p>\n

April also marked the ninth consecutive month that inflation remained within the central bank\u2019s 2-4% target range. <\/span><\/p>\n

For the initial four months of 2025, inflation averaged 2%.<\/p>\n

The BSP stated that the latest inflation figures are \u201caligned with its assessment of a manageable inflation setting over the policy horizon.\u201d<\/p>\n

However, it noted a \u201cmore challenging external environment that could hinder global GDP (gross domestic product) growth and pose a downside risk to domestic economic activity.\u201d<\/p>\n

\u201cOverall, a more manageable inflation outlook along with the downside risks to growth justify a shift toward a more accommodative monetary policy stance,\u201d the central bank remarked.<\/span><\/p>\n

\u201cLooking forward, the BSP will maintain a measured strategy in deciding on further monetary easing.\u201d<\/span><\/p>\n

The Monetary Board resumed its easing cycle in April with a 25-basis-point rate reduction, bringing the primary rate to 5.5%.\u00a0<\/span><\/p>\n

PSA data revealed that core inflation, which excludes volatile prices of food and energy, stood at 2.2% in April, the same as March. It decreased from 2.4% in April of last year.<\/span><\/p>\n

\u201cThe primary factor for the reduced inflation rate in April 2025 compared to March 2025 is the slower rise in the prices of Food and Nonalcoholic beverages at a rate of 0.9%,\u201d National Statistician Claire Dennis S. Mapa stated on Tuesday. <\/span><\/p>\n

The food and nonalcoholic beverages index in April significantly slowed from 2.2% in March and 6% in the same month of 2024. <\/span><\/p>\n

Food inflation further decreased to 0.7% in April from 2.3% in March and 6.3% a year prior. <\/span><\/p>\n

Rice inflation further contracted to 10.9% in April from the 7.7% decline in March, Mr. Mapa reported. <\/span><\/p>\n

According to Mr. Mapa, the average price of a kilo of regular milled rice nationwide dropped by 13.3% to P44.45 in April compared to P51.25 in the same month last year.\u00a0<\/span><\/p>\n

The average cost of a kilo of well-milled rice also fell by 10.4% to P50.54 in April from P56.42 in April 2024. <\/span><\/p>\n

Conversely, the price of a kilo of special rice decreased by 6.2% to P60.69 from P64.68 in the same month a year prior. <\/span><\/p>\n

\u201cThe slower increase in vegetable prices also benefitted those with higher weights [in the basket]. Of course, we observed a deceleration in fish prices,\u201d Mr. Mapa remarked. <\/span><\/p>\n

Vegetables, tubers, plantains, cooking bananas, and pulses decreased to 2.3% in April from 6.9% the previous month.\u00a0<\/span><\/p>\n

Lower inflation was also observed for fish and other seafood at 4.3% in April, down from 5.5% in March. <\/span><\/p>\n

Pork inflation eased to 10.3% in April from 10.8% in March.<\/span><\/p>\n

\u201cIt\u2019s a slight reduction, but the price gap remains significant since it\u2019s still around 10%. As I highlighted earlier, in our food basket, pork and chicken prices are the two items that have significantly contributed. The price of pork is still considerably high,\u201d Mr. Mapa stated.\u00a0<\/span><\/p>\n

He mentioned that the average retail price of fresh pork kasim<\/i> rose by 9.5% to P364.79 per kilo in April from P333.29 in the same month in 2024.\u00a0<\/span><\/p>\n

The cost of fresh pork belly (liempo<\/i>) in April increased by 9.7% to P381.02 per kilo from P374.20 a year ago.<\/p>\n

\u201cThe continuous slowdown in inflation, primarily driven by a noticeable decrease in food prices, is an encouraging sign that our policy actions are effective. We will persist in executing strategies to closely monitor price shocks and proactively mitigate inflationary pressures,\u201d said DEPDev Undersecretary for Planning and Policy Group Rosemarie G. Edillon.\u00a0<\/span><\/p>\n

TRANSPORT COSTS
\n<\/b>Decreased transport costs also contributed to slower inflation in April, Mr. Mapa noted.<\/p>\n

The transport index dropped at a quicker rate <\/span>to 2.1% in April from the 1.1% decline in March. <\/span><\/p>\n

Gasoline prices fell at an even faster rate of 12.4% in April from the 7.5% decrease in the previous month. Diesel prices also reduced at a quicker rate to 8.3% in April from the 5% decline in March.<\/p>\n

When asked if the recent Light Rail Transit (LRT) Line 1 fare hike influenced the inflation rate, Mr. Mapa stated that the weight of passenger transport by train in the overall inflation basket is negligible.<\/p>\n

Starting April 2, the fare at LRT-1 was raised to P16.25 from P13.29, while the distance per kilometer fare increased to P1.47 from P1.21.<\/p>\n

Meanwhile, the PSA reported that inflation for housing, water, electricity, gas, and other fuels accelerated to 2.9% in April from a 1.7% increase in March. This was one of the primary contributors to headline inflation, accounting for a 39.5% share.<\/span><\/p>\n

Manila Electric Co. increased the overall rate by P0.7226 per kilowatt-hour (kWh) to P13.0127 per kWh in April from P12.2901 per kWh in March. <\/span><\/p>\n

PSA data indicated that inflation for the bottom 30% of income households further decelerated to 0.1% in April from 1.1% in March and 5.3% a year ago. <\/span><\/p>\n

Inflation in the National Capital Region (NCR) increased to 2.4% in April from 2.1% in March. Outside NCR, inflation slowed to <\/span>1.2% from 1.8% in the prior month.<\/p>\n

HSBC economist for ASEAN Aris D. Dacanay stated that April inflation was significantly below market predictions as reduced food prices more than offset the increase in electricity rates.<\/span><\/p>\n

\u201cDespite electricity rates and train fares being raised in April, the drop in food prices was sufficient to lower inflation. Not only did rice prices stabilize, but meat, fruits, and vegetable prices also moderated, indicating improved supply conditions in the economy,\u201d he explained.<\/span><\/p>\n

Mr. Dacanay noted that a strong peso against the US dollar aided in lowering pump prices.<\/span><\/p>\n

\u201cIn summary, the subdued inflation figure is favorable news for the Philippine economy during a period of uncertainty regarding trade and the global economy. Reduced price pressures will likely support the primary growth driver of the country.
\n“““html<\/p>\n

\u2014 usage,\u201d he remarked.<\/span><\/p>\n

In a dispatched report via email, Chinabank Research indicated that in the upcoming months, it anticipates inflation to stay low and manageable owing to mild price dynamics, governmental efforts to stabilize food costs, and advantageous base effects. <\/span><\/p>\n

Chinabank further noted that the favorable domestic circumstances might mitigate any potential adverse impacts from elevated US tariffs and global policy uncertainties. <\/span><\/p>\n

POSSIBLE CUT IN JUNE?
\n<\/b><\/span>In the meantime, the BSP indicated that the risks to the inflation forecast remain largely balanced from 2025 through 2027. <\/span><\/p>\n

\u201cUpward pressures arise from potential hikes in transport fees, meat costs, and utility charges. Conversely, downward threats are associated with the ongoing impacts of decreased tariffs on rice imports and the anticipated effects of faltering global demand,\u201d it elaborated. <\/span><\/p>\n

Finance Secretary and Monetary Board member Ralph G. Recto stated that the unexpectedly low inflation provides the BSP the opportunity to further reduce rates \u201cto enhance the purchasing power of Filipinos, attract more investments, and stimulate economic growth, particularly amid escalating global uncertainties.\u201d<\/span><\/p>\n

The BSP\u2019s forthcoming policy assembly is scheduled for June 19. <\/span><\/p>\n

Nicholas Antonio T. Mapa, chief economist at Metropolitan Bank & Trust Co., mentioned that the recent statement from the BSP signifies a \u201cdovish shift\u201d for BSP Governor Eli M. Remolona, Jr. <\/span><\/p>\n

\u201cWe anticipate the BSP will lower rates in June, possibly reducing the reverse repurchase rate to 4.75% should the inflation forecast remain under control,\u201d he conveyed via Viber chat on Tuesday. <\/span><\/p>\n

In his opinion, Mr. Dacanay projected that the upcoming policy rate reduction may occur in August rather than June. <\/span><\/p>\n

\u201cHowever, given how surprisingly low inflation has been, there is a possibility of the BSP cutting its policy rate sooner and perhaps by a greater margin, potentially down to 4.75% by the end of the year,\u201d he remarked.<\/p>\n


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“`html By Aubrey Rose A. Inosante, Correspondent HEADLINE INFLATION decelerated to its lowest in more than five years in April, due to a decline in food prices and transportation expenses, as reported by the Philippine Statistics Authority (PSA), providing the central bank the opportunity to further reduce rates. Initial data from the PSA indicated the<\/p>\n","protected":false},"author":3,"featured_media":11818,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[2350],"class_list":["post-11817","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy-and-markets","tag-return-a-list-of-comma-separated-tags-from-this-title-inflation-further-cools-to-1-4-in-april"],"yoast_head":"\nApril Sees Inflation Dip to 1.4% - WSJ-Crypto<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wsj-crypto.com\/index.php\/2025\/05\/07\/april-sees-inflation-dip-to-1-4\/\" \/>\n<meta property=\"og:locale\" content=\"it_IT\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"April Sees Inflation Dip to 1.4% - WSJ-Crypto\" \/>\n<meta property=\"og:description\" content=\"“`html By Aubrey Rose A. 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