Quantcast
Latest Stories

Inflation eases to 3.6% in September

By

Philippine inflation eased in September after a seven-month high in August as price increases in garments, utilities and services decelerated.

Documents from the National Statistics Office (NSO) showed that annual inflation came in at 3.6 percent in September, a slowdown from August’s 3.8 percent.

The latest inflation figure was also an improvement from the year-ago rate of 4.7 percent.

The average inflation from January to September stood at 3.2 percent, near the low end of the government’s 3- to 5- percent target for 2012.

Inflation in Metro Manila settled at 3.5 percent in September from the revised 4.4 percent in August as slower price gains were seen in food, non-alcoholic beverages, utilities, recreation and culture.

Annual inflation in areas outside Metro Manila, however, went up to 3.7 percent in September from 3.6 percent in August as an uptick was noted in food, non-alcoholic beverages, transport, communication, recreation and culture.

Excluding selected food and energy items, core inflation for the whole country eased to 3.8 percent in September from 4.3 percent in August.

“Contributing also to the downtrend were the price decreases in food items such as fish, cooking oil and common species and seasonings seen in many regions together with the price declines in vegetables in NCR,” the NSO added.

“The September inflation rate of 3.6 percent should give some sense of relief for policymakers,” said Benjamin Diokno of the University of Philippines School of Economics.

He said the full-year inflation rate would likely be in the neighborhood of 3.2 percent, approaching the lower bound of the official inflation forecast.

“This should provide more confidence for the BSP to cut interest rates by another 25 basis points,” Diokno said, adding that the interest rate cut should be complemented by a stronger fiscal response.

“Public spending, specially for public infrastructure, should be accelerated. State spending for public infrastructure appears impressive simply because it is being compared to a sharp decline in infrastructure spending last year,” he added.


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Business , Inflation



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement

News

  • Obama due in Seoul as North Korea nuclear test fears grow
  • Hold departure order out vs Corona, Singson
  • Malaysia to release MH370 report–PM
  • Man found dead in Quezon City, alleged victim of summary execution–report
  • Aquino to lead Air Force turnover rites
  • Sports

  • Michael Phelps loses to Lochte in comeback meet
  • Sharapova advances to Stuttgart quarterfinals
  • Galedo caps ride of redemption
  • Beermen, Express dispute second semis slot today
  • Lady Agilas upset Lady Bulldogs in four sets
  • Lifestyle

  • ‘Recovered’ Banksy works on display ahead of sale
  • Marinduque: Visiting the ‘palm of the ocean’
  • First at Vatican in 60 years
  • How Jing Monis Salon gave Krissy the pixie
  • Want to be a supermodel? Work on your inner beauty, says Joey Espino
  • Entertainment

  • Paul McCartney to play at Candlestick concert
  • Kristoffer Martin: from thug to gay teen
  • Has Ai Ai fallen deeply with ‘sireno?’
  • California court won’t review Jackson doctor case
  • Cris Villonco on play adapted from different medium
  • Business

  • PAL hailed for ban on shark fin cargo
  • BSP to change tint of P100 bill
  • Nielsen sees car buying boom in the Philippines
  • How author of best-seller exposed ‘one percent’ economic elite
  • Bangko Sentral readies new bank lending rules
  • Technology

  • Cloud strength helps Microsoft earnings top Street
  • Vatican announces hashtag for April 27 canonizations
  • Enrile in Masters of the Universe, Lord of the Rings?
  • Top Traits of Digital Marketers
  • No truth to viral no-visa ‘chronicles’
  • Opinion

  • Editorial Cartoon, April 25, 2014
  • No deal, Janet
  • Like making Al Capone a witness vs his gang
  • MERS-CoV and mothers
  • A graduation story
  • Global Nation

  • China welcomes PH apology
  • Only 4 Etihad passengers not accounted for
  • Abandoned in Malta,15 PH seamen return
  • Senator hopes PH will also get same vow
  • HK victims to get P115M; traders raised money
  • Marketplace