Philippine inflation rate inches up to 4%

Higher prices of food, beverages and other essential commodities pushed up the Philippine inflation to 4 percent in August from 3.9 percent in July.

Latest data from the National Statistics Office (NSO) showed that higher annual growth rates were recorded in the indices of  tobacco, clothing, fuel, light and water (FLW) and miscellaneous items. Inflation a year-ago was 0.1 percent.

NSO said the core inflation rate rose to 4.2 percent in August from 3.9 percent in July, excluding selected food and energy items.

The annual rate of price adjustment in the National Capital Region (NCR) was also higher at 4.5 percent in August from 4.1 percent in July.

The annual inflation rate in areas outside the National Capital Region (AONCR) in August remained steady at 3.8 percent.

NSO noted some price hikes in essential food items such as vegetables, eggs, fish, sugar and cooking oil in many regions including NCR which pushed up the country’s month-on-month inflation rate by 0.2 percent in August.

Increased electricity rates in NCR and in some regions were also noted in August as the  annual inflation rate in Metro Manila picked up to 4.5 percent in August from 4.1 percent in July.

The annual inflation rate in areas outside NCR remained at its July rate of 3.8 percent. Higher annual inflation rates were noted in six regions with the Autonomous Region in Muslim Mindanao (ARMM) posting the biggest increase of 0.5 percentage point to 6% from 5.5%.

Among the regions, the highest annual rate of 6 percent was recorded in ARMM while the lowest rate at 2.5 percent was seen Ilocos and Eastern Visayas.

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