By Gabriela Baron
The country’s inflation quickened to 5.3% in August, the Philippine Statistics Authority (PSA) reported Tuesday, Sept. 5.
July’s inflation was at 4.7%.
The current figure brings the average inflation to 6.6%.
Food and non-alcoholic beverages had the biggest contribution with 74.7%, followed by restaurants and accommodation services, 9.2%, and personal care and miscellaneous goods and services, 5%.
The National Economic and Development Authority (NEDA) said the government will boost efforts to ensure food security, protect consumers, and assist farmers.
“Despite the ongoing challenges we encounter, such as severe weather conditions and trade limitations imposed by other nations, our objective remains to achieve an inflation rate between 2 and 4 percent by the year’s end,” NEDA Secretary Arsenio Balisacan said.
-ag
