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PHILIPPINE-ECONOMY-INFLATION
Philippine inflation accelerates further in September
MANILA, Oct. 5, 2018 (BSS/Xinhua) – Headline inflation in the Philippines
continued to accelerate in September 2018, hitting a new nine-year high of
6.7 percent, the Philippine Statistics Authority (PSA) released on Friday.
In August 2018, the inflation was pegged at 6.4 percent and in September
2017 it was 3 percent.
“The uptrend was primarily brought about by the heavily-weighted food and
non-alcoholic beverages index which further accelerated to 9.7 percent in
September 2018,” the PSA said in a statement.
Aside from food and non-alcoholic beverages, the PSA said housing, water,
electricity, gas and other fuels and transport also contributed to the
overall inflation.
Headline inflation rose in August to 6.4 percent year-on-year, the highest
level observed since April 2009, as supply and logistical issues continued to
drive price pressures. Inflation in August went up as most food items as well
as alcoholic beverages and tobacco recorded price increases.
According to the latest date, the year-to-date inflation in the
Philippines has already stood at 4.8 percent, faster than the inflation
projection from the government for 2018 which is between 2 percent and 4
percent.
BSS/XINHUA/HR/1210