Inflation soars to new 9-year high of 6.7% in September
MANILA, Philippines (Updated 9:50 a.m.) — The country's headline inflation further quickened to 6.7 percent in September, the Philippine Statistics Authority announced Friday.
The September inflation was higher than the 6.4 percent in August, a new nine-year high.
This is slightly lower than the Bangko Sentral's 6.8 percent forecast and higher than the 6.4 percent forecast of the Department of Finance.
LOOK | Details of the September inflation (via @josebimbosantos) pic.twitter.com/dFlkfrRCnG
— ONE News PH (@onenewsph) October 5, 2018
Food and non-alcoholic beverages; housing, water, electricity, gas and other fuels; and transport are the top contributors to the overall inflation, the PSA said.
The food and non-alcoholic beverages index grew to 9.7 percent in September while transport was at 8 percent.
Other commodity groups also registered increases — alcoholic beverages and tobacco (21.8 percent), clothing and footwear (2.5 percent), furnishing, household equipment and routine maintenance of the house (3.6 percent), health (4.1 percent), communication (0.5 percent) and recreation and culture (3 percent).
'Ompong' contributed to Bicol inflation
PSA also said inflation in the National Capital Region was slower at 6.3 percent in September, and higher outside the capital at 6.7 percent. The highest inflation in the regions was 10.1 percent in Bicol and lowest in Central Luzon at 4.5 percent.
National Statistician Lisa Bersales said Typhoon Ompong (international name Mangkhut) has specifically contributed to the increase of prices of commodities in the Bicol region.
Bersales noted that data is collected in the first five days and the middle of the month, which means that aftermath of the typhoon might have already been reflected on the September inflation.
Ompong ravaged northern Luzon on September 15, damaging almost P27 billion worth of rice, corn, high value crops, fisheries and livestock in the country. — Patricia Lourdes Viray
Headline inflation slows for the first time in three months to 2.4% in August, the Philippine Statistics Authority announces Friday.
The PSA says this was a result of a 2.5% year-to-date average inflation for 2020.
Ang headline inflation o ang pagtaas ng presyo ng mga bilihin at serbisyo sa bansa ay bumagal ng 2.4 percent nitong Agosto 2020. #PHCPI #Inflation @mapa_dennis
— PSAgovPH (@PSAgovph) September 4, 2020
Headline inflation quickens to 2.7% in July, the Philippine Statistics Authority announces Wednesday.
This was a result of a 2.5% year-to-date average inflation for 2020. The PSA also says the reason for the increase in July inflation was the faster movement of transportation prices.
Ang headline inflation o ang pagtaas ng presyo sa mga bilihin at serbisyo sa bansa ay bahagyang bumilis sa 2.7 percent nitong Hulyo 2020. #PHCPI #Inflation
— PSAgovPH (@PSAgovph) August 5, 2020
Headline inflation, as measured by consumer price index, accelerates to 2.5% year-on-year, the first time it gained pace this year.
Bangko Sentral ng Pilipinas earlier projected inflation to fall between 1.2% to 2.7%.
The country’s headline inflation in June 2020 went up to 2.5 percent, after four consecutive months of deceleration. #PHCPI #Inflation
— PSAgovPH (@PSAgovph) July 7, 2020
Headline inflation eases to 2.2% in April, the first month of the enhanced community quarantine in several areas due to the COVID-19 pandemic.
According to the Philippine Statistics Authority, the year-to-date inflation for this year slowed down to 2.6%, which is lower than April 2019's inflation at 3.0%.
The latest inflation rate is the slowest in five months since last November's 1.3%.
.@PSAgovph: Inflation has sustained its downtrend this year, accelerating 2.2% in April, the slowest for the year.
— Philstar Business (@philstarbiznews) May 5, 2020
Average inflation for the first four months hit 2.6%, well within the central bank's 2-4% target for 2020. pic.twitter.com/sfh6aWwyKI
Headline inflation increased by 2.5% in December 2019, the Philippine Statistics Authority says in a briefing.
"This brings the annual average inflation for 2019 to 2.5%," it also says.
Headline inflation rose to 1.3% in November 2019 after bottoming to a 43-month low of 0.8% in October.
The government's target inflation range for 2019 was 2-4%.
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