TODAY'S EDITORIAL: No good news in 'slower' February inflation
6 percent, the Philippine Statistics Authority reported on Tuesday, a figure that was slightly lower than January's 14-year high of 8.7 percent. This literal fact was the basis of both government and media reports proclaiming that 'inflation has slowed down,' and offering hopeful predictions that the trend will continue.We certainly hope inflation will decrease, but there is little in the details of the February inflation data to suggest that is beginning to happen yet.
6 percent from January; furnishings, household equipment and routine household maintenance, which increased 1.04 percent from the month before; and health, which rose by 0.68 percent month on month.In reaction to the release of the February inflation data, the government has taken two new steps, but it is unclear how either of them will be effective in reducing persistent inflation.
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