PHL September inflation rate at 4.8% vs 4.7% in August

The NSO said September inflation came in at 4.8 percent, a marginal increase from the 4.7-percent uptick recorded in August. "Higher annual increases in the indices of clothing and footwear, housing, water, electricity, gas and other fuels; health; transport; and recreation and culture were noted during the month. Inflation a year ago was 3.9 percent," the NSO said. On a monthly basis, prices of consumer items rose 0.2 percent in September owing to upward movement of prices of food items such as vegetables, fruits, milk and milk products. Also, the increase in prices of alcoholic beverages, cigarettes and some construction materials and firewood in many regions also contributed to the uptrend. For the nine-month period of January to September, Philippine inflation was at 4.8 percent, nearing the upper limit of the 3 percent to 5 percent target of the Bangko Sentral ng Pilipinas for the year. - CMA/OMG, GMA News