(Eagle News)–Inflation eased further to 0.8 percent in October, the lowest recorded since May 2016.
The Philippine Statistics Authority said the October rating was lower than the 0.9 percent recorded in September, and the one recorded in October 2018 or 6.7 percent.
The PSA said the downtrend was mainly due to the 0.9 percent annual drop registered in the heavily-weighted food and non-alcoholic beverages index.
The annual rate of transport index also went down further by 1.7 percent during the month.
According to the PSA, slower annual increments were also observed in the following:
- Housing, water, electricity, gas, and other fuels, 0.6%;
- Furnishing, household equipment and routine maintenance of the house, 2.7%; and
- Health, and restaurant and miscellaneous goods and services, both at 2.9%.
Inflation in the National Capital Region, however, was higher at 1.3 percent in October, from the 0.9 percent in September and the 6.1 percent in October last year.
Inflation in areas outside the NCR, however, decelerated further to 0.7 percent in October.
Inflation was observed at 0.9 percent in September and 6.8 percent in October 2018.
