Inflation slows in October
(Photo by Jam Sta. Rosa, AFP)
MANILA, Philippines — For the first time in three months, inflation eased in October mainly on slower increase in food prices, according to the Philippine Statistics Authority (PSA).
National Statistician Dennis Mapa said at a briefing yesterday that headline inflation rate, or the rate of increase in average prices of goods and services typically bought by consumers, settled at 4.9 percent in October from 6.1 percent in September.
The October inflation reading was also lower than the 7.7 percent in the same month last year.