Inflation in October further accelerated on the back of higher food prices including vegetables and meat, the Philippine Statistics Authority said on Friday. The consumer price index rose 7.7 perce…
Inflation in October further accelerated on the back of higher food prices including vegetables and meat, the Philippine Statistics Authority said on Friday.
Inflation for food and non-alcoholic beverages rose to 9.4 percent in October from 7.4 percent the previous month, largely influenced by increased prices for vegetables, tubers, plantains, cooking bananas and other parts of slaughtered animals, PSA data showed.“Medyo wide, di lang siya sa vegetables. Mataas din sa meat… fish. May iba pa tayong mga items, sugar, confectionary desserts. You will notice for NCR in particular, double digit na almost all sub-groups.
Meanwhile, recent weather disturbances are also likely to push supply-side inflation in the coming months after crops were damaged, an analyst said. BSP Gov. Felipe Medalla said on Thursday the monetary board would match the US Federal Reserve’s 75-bps interest rate hike in its Nov. 17 meeting.
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