Prices of commodities and services continue its uptrend as the inflation rate inched up to 4.8 percent in September from 4.7 percent in August, according to the National Statistics Office (NSO).
The NSO attributed the slight increase in inflation to the higher annual increases in the indices of clothing and footwear; housing, water, electricity, gas and other fuels; health; transport; and recreation and culture were noted during the month. Inflation a year ago was 3.9 percent.
The September inflation figure is within the Bangko Sentral ng Pilipinas forecast of between 3.8 percent and 4.8 percent.
In the first nine months, inflation rate stood at 4.8 percent.
On a monthly basis, prices of consumer items generally went up by 0.2 percent in September from 0.1 percent in August due to the upticks in the prices of food items specifically vegetables, fruits, milk and milk products.
“The increase in prices of alcoholic beverages, cigarettes, selected construction materials and firewood in many regions also contributed to the uptrend,” the NSO said.
Prices for food alone, however, eased off to 5.2 percent in September from 5.3 percent in August.
A negative annual rate was still registered in sugar, jam, honey, chocolate and confectionery index at negative 12 percent in September from negative 6.3 percent in August.
Moreover, the rice index increased at a slower pace of 3.2 percent from 4 percent; fish, 7.8 percent from 8.3 percent; oils and fats, 33.3 percent from 35.8 percent; and food products not elsewhere classified, 2.9 percent from 3.8 percent.
Annual inflation in Metro Manila picked up to 4.2 percent in September from 3.3 percent in August due to higher annual adjustments in food and non-alcoholic beverages; housing, water, electricity, gas and other fuels; and transport indices.
In areas outside Metro Manila, inflation slowed down to 5 percent in September from 5.1 percent in August. –Daily Tribune
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