PH inflation dips to 0.9% in Sept.

Credit to Author: Tempo Desk| Date: Fri, 04 Oct 2019 08:11:30 +0000

A VENDOR arranges produce for sale in a market in Quezon City. The Philippines’ inflation rate further slowed to 0.9 percent in September 2019 because of lower food and electricity costs, the Philippine Statistics Agency said. (Ali Vicoy)

The Philippines’ inflation rate further slowed to 0.9 percent in September 2019, the lowest since the 1.3 percent in June 2016, due to faster deceleration of the heavily-weighted food and non-alcoholic beverages index.

This is a drop from 1.7 percent last August and is lower than the 6.7 percent a year ago, the peak last year, which brought the average inflation in the first nine months this year to 2.8 percent.

Philippines Statistics Authority Undersecretary Claire Dennis S. Mapa said rice inflation posted a -8.9 percent inflation; corn, -4.1 percent; vegetables, -4.7 percent; and sugar, jam, honey, chocolate, and confectionery, -4.1 percent.

Mapa said the latest rice inflation is lowest since 1991, with monthly price monitoring data showing an 18 percent drop year-on-year on retail price, which authorities traced to the rice tariffication law.

Mapa forecasts inflation to sustain its drop towards the end of the year. “Our expectation is that it
http://tempo.com.ph/feed/