Philippines year-on-year headline inflation rate continued to decelerate at 11.2 % in October from 11.8 % in September brought about by the continued slowing down in the annual price increases of the heavily weighted food, beverages and tobacco (FBT) and services items. Inflation a year ago was 2.7 %. Excluding selected food and energy items, core inflation continued to go up at a rate of 7.8 % in October from 7.5 % in September.
Decreases in the prices of food items such as rice, corn, pork and chicken along with the series of reductions in the prices of kerosene, gasoline and diesel pushed down the overall consumer prices by -0.4 % in October, the same rate posted in September.
Annual rates of price increases in FBT and services items correspondingly improved to 15.0 % and 10.2 % in October from their respective September rates of 16.1 % and 12.1 %. Annual inflation for the clothing index was however higher at 4.9 % from 4.8 %; housing and repairs (H&R) index, 5.3 % from 5.2 %; FLW index, 10.7 % from 8.5 %; and miscellaneous items index, 3.7 % from 3.5 %.
The national annual inflation rate for food alone further decelerated to 15.6 % in October from 17.0 % in September.
Annual price hike in rice was slower at 32.4 % in October from 37.2 % in September; corn, 26.3 % from 26.8 %; dairy products 13.4 % from 14.2 %; eggs, 5.5 % from 6.1 %; fruits and vegetables, 14.1 % from 15.9 %; meat, 10.1 % from 11.0 %; and miscellaneous foods, 9.1 % from 9.3 %. The corresponding annual rates of price increments in cereal preparations and fish at 20.3 % and 10.1 % were however higher than their respective last month’s rates of 20.0 % and 10.0 %.
On a monthly basis, consumer prices at the national level dropped by -0.4 % in October, the same rate posted September. This was brought about by the continued decreases in the prices of FBT items at -0.4 % from -0.2 % and services items, -1.2 %, the same rate in September. Slower monthly price increments correspondingly observed in clothing and H&R items at 0.2 % and 0.1 % from their respective last month’s rates of 0.3 % and 0.2 % also contributed to the downtrend. Price add-ons in FLW items were however higher at 0.5 % from -1.4 % while that for miscellaneous items remained at 0.2 %.
Decreases in the prices of food items such as rice, corn, pork and chicken along with the series of reductions in the prices of kerosene, gasoline and diesel pushed down the overall consumer prices by -0.4 % in October, the same rate posted in September.
Annual rates of price increases in FBT and services items correspondingly improved to 15.0 % and 10.2 % in October from their respective September rates of 16.1 % and 12.1 %. Annual inflation for the clothing index was however higher at 4.9 % from 4.8 %; housing and repairs (H&R) index, 5.3 % from 5.2 %; FLW index, 10.7 % from 8.5 %; and miscellaneous items index, 3.7 % from 3.5 %.
The national annual inflation rate for food alone further decelerated to 15.6 % in October from 17.0 % in September.
Annual price hike in rice was slower at 32.4 % in October from 37.2 % in September; corn, 26.3 % from 26.8 %; dairy products 13.4 % from 14.2 %; eggs, 5.5 % from 6.1 %; fruits and vegetables, 14.1 % from 15.9 %; meat, 10.1 % from 11.0 %; and miscellaneous foods, 9.1 % from 9.3 %. The corresponding annual rates of price increments in cereal preparations and fish at 20.3 % and 10.1 % were however higher than their respective last month’s rates of 20.0 % and 10.0 %.
On a monthly basis, consumer prices at the national level dropped by -0.4 % in October, the same rate posted September. This was brought about by the continued decreases in the prices of FBT items at -0.4 % from -0.2 % and services items, -1.2 %, the same rate in September. Slower monthly price increments correspondingly observed in clothing and H&R items at 0.2 % and 0.1 % from their respective last month’s rates of 0.3 % and 0.2 % also contributed to the downtrend. Price add-ons in FLW items were however higher at 0.5 % from -1.4 % while that for miscellaneous items remained at 0.2 %.
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