PH inflation quickens anew in September at 6.1%

Buildings in the City of Manila, March 2022. (File photo by Alec Go/PTV)

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

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