Philippine inflation rate

Inflation slightly eases to 4.8% in September 2021 but stays high

Ralf Rivas
Inflation slightly eases to 4.8% in September 2021 but stays high

PRICES. Mixed and pre-cut highland vegetables sold in Baguio City.

Mau Victa/Rappler

The Philippines' inflation rate has been within the target band of 2% to 4% in only one of the nine full months of 2021, so far

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

Ralf Rivas

A sociologist by heart, a journalist by profession. Ralf is Rappler's business reporter, covering macroeconomy, government finance, companies, and agriculture.