By Christine Fabro
The country’s headline inflation increased to 6.1% in September, the Philippine Statistics Authority (PSA) reported Thursday, Oct. 5.
August’s inflation rate was at 5.3%.
This brings the national average inflation from January to September this year to 6.6%.
Food and non-alcoholic beverages posted the biggest contribution with 9.7%. Transport’s 1.2% inflation rate during the month from 0.2% in August also contributed to the uptrend of headline inflation.
Meanwhile, PSA said the acceleration of food inflation in September 2023 was due to the higher inflation for rice at 17.9%, followed by meat and other parts of slaughtered land animals at 1.3%.
In a statement, Malacañang said President Ferdinand R. Marcos Jr.’s administration is “actively working to alleviate transportation costs and make long-term investments in irrigation and modern farming practices.”
It also noted that economic managers anticipate a moderation in rice prices, as local production is set to increase due to the onset of the harvest season and entry of rice imports. – ag