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The Philippines’ inflation rate inched down to 4.8% in September from 4.9% in August, the Philippine Statistics Authority reported on Tuesday, October 5.
National Statistician Dennis Mapa said the primary factor that influenced the slight easing was slower transport inflation at 5.2%.
Prices of food and non-alcoholic beverages also rose at a slower pace, with 6.2%.
Note, however, that these figures are still elevated.
The country’s inflation rate has been within the target band of 2% to 4% in only one of the nine full months of 2021, so far.
Average inflation for January to September stood at 4.5%.
Despite higher global crude prices and a weaker peso further pushing up inflation in 2021, the Bangko Sentral ng Pilipinas is expected to keep interest rates low until 2022 to support economic recovery. – Rappler.com