Philippines' inflation picks up to 2.5 pct in October
Source: Xinhua | 2020-11-06
The year-on-year headline inflation in the Philippines accelerated to 2.5 percent in October, up from 2.3 percent in the previous month, driven by increases in food and non-alcoholic beverages, the Philippine Statistics Authority (PSA) said on Thursday.
"Higher overall inflation was primarily brought about by the increase in the inflation of the heavily-weighted food and non-alcoholic beverages at 2.1 percent during the month, from 1.5 percent in September," PSA head Dennis Mapa said in a virtual news conference, particularly in the prices of meat, fish, and cereals during the month.
Statistics show that the country's food index was mainly caused by the jump in the inflation of the meat index at 4.7 percent during the month, up from 2.9 percent in September.
The PSA said the core inflation, which excludes selected food and energy items, decelerated to 3.0 percent in October, from 3.2 percent in the previous month.
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