Philippines wholesale price inflation slowed for the sixth consecutive month in October, preliminary figures from the National Statistics Office showed Thursday.
The general wholesale price index rose 1.3 percent year-on-year in October, slower than September's 1.7 percent growth. In August, prices climbed 3.1 percent. The growth rate has been slowing since May.
The annual decline of 9.0 percent in mineral fuels, lubricants and related materials index contributed to the slowdown in wholesale price inflation. Prices of food rose at slower pace by 5.9 percent during the month, down from 6.9 percent increase in September.
Month-on-month, wholesale prices fell 0.6 percent in October, after a 0.3 percent decline in the prior month. This was the fourth consecutive monthly decline in the index.
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