Philippine inflation accelerates further in September

Source: Xinhua | 2018-10-05

Headline inflation in the Philippines continued to accelerate in September 2018, hitting a new nine-year high of 6.7 percent, the Philippine Statistics Authority (PSA) released on Friday.

In August 2018, the inflation was pegged at 6.4 percent and in September 2017 it was 3 percent.

"The uptrend was primarily brought about by the heavily-weighted food and non-alcoholic beverages index which further accelerated to 9.7 percent in September 2018," the PSA said in a statement.

Aside from food and non-alcoholic beverages, the PSA said housing, water, electricity, gas and other fuels and transport also contributed to the overall inflation.

Headline inflation rose in August to 6.4 percent year-on-year, the highest level observed since April 2009, as supply and logistical issues continued to drive price pressures. Inflation in August went up as most food items as well as alcoholic beverages and tobacco recorded price increases.