logo
Plus   Neg
Share
Email

Philippine Inflation Accelerates For Third Month

Philippine consumer price inflation accelerated for the third straight month in September to the highest level in five months, figures from the Philippine Statistics Authority showed Thursday.

The consumer price index climbed 3.4 percent year-over-year in September, faster than the 3.1 percent rise in August.

Economists had expected the inflation to remain stable at 3.1 percent.

Moreover, the latest inflation was the strongest since April, when prices had grown the same 3.4 percent.

Excluding selected food and energy items, core inflation rose to 3.3 percent in September from 3.0 percent in the prior month.

On a monthly basis, consumer prices went up 0.5 percent from August, when it increased by 0.3 percent. It was forecast to rise by 0.2 percent.

The statistical office also revealed that producer prices declined at a slower rate of 0.3 percent annually in August, following a 0.9 percent drop in the prior month.

Monthly, producer prices edged up 0.2 percent in August after a 0.1 percent fall in July.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Economic News

What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.

Follow RTT