(Eagle News) — Inflation in the Philippines accelerated to 6.1 percent in September, the Philippine Statistics Authority said.
According to the PSA, this is faster than the 5.3 percent reported in August.
With the figures, the national average inflation from January to September 2023 remains at 6.6 percent, slower than the 6.9 percent reported in September 2022.
The PSA said the uptrend in the overall inflation in September 2023 was primarily brought about by the “higher year-on-year increase in the heavily-weighted food and non-alcoholic beverages at 9.7 percent during the month from 8.1 percent in the previous month.”
Transport, with an inflation rate of 1.2 percent, also contributed to the uptrend of the headline inflation, the PSA said.
Higher annual increases were also noted in the indices of the following:
- Health with 4.1 percent inflation from 3.9 percent
- Recreation, sport and culture, 5.1 percent from 4.9 percent;
- Education services, 3.6 percent from 2.9 percent.
The following commodity groups, meanwhile, showed lower inflation rates:
- tobacco and others, 9.8 percent from 10.1 percent;
- Clothing and footwear, 4.7 percent from 4.8 percent;
- Housing, water, electricity, gas and other fuels, 2.4 percent from 2.5 percent;
- Furnishings, household equipment and routine household maintenance, 5.4 percent from 5.6 percent;
- Information and communication, 0.6 percent from 0.7 percent; and
- Personal care, and miscellaneous goods and services, 5.4 percent from 5.5 percent.
Food inflation at the national level was at 10.0 percent in September 2023, faster than the 8.2 percent recorded in the previous month.
“Similarly, inflation in NCR moved at a faster pace in September 2023 at 6.1 percent from 5.9 percent in the previous month,” the PSA said.
It added areas outside the NCR also followed a similar trend, with overall inflation increasing to 6.0 percent.