September inflation revs up to 6.9%
Inflation in the Philippines heated up to 6.9 percent in September from 6.3 percent in August, according to the Philippine Statistics Authority. This brought the year-to-date [January-September] average to 5.1 percent.
National Statistician Dennis Mapa said in a press briefing the latest readout was mainly driven by faster rate of increases in prices of some food items like eggplant, tilapia and refined sugar as well as electricity and housing.
Inflation for food alone was pegged at 7.7 percent, faster than 6.5 percent in August. The pace of rising prices in most basic items could not be offset by slower increases in the prices of meat and fruits.
September’s results brought inflation back up to the same level last seen in October 2018.
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