The average prices of basic goods and services saw a deceleration in October amid slower increase in food prices during the month, the Philippine Statistics Authority (PSA) reported on Friday.
At a virtual press briefing, PSA chief and National Statistician Claire Dennis Mapa announced that inflation — or the rate of increase in commodity prices — clocked in at 4.6% last month.
October’s inflation print is slower than September’s 4.8%.
Last month’s figures also brought the year-to-date average at 4.5%, still above the government’s target ceiling of 2% to 4%.
“Ang dahilan ng pagbagal ng antas ng inflation nitong Oktubre 2021 ay ang mas mabagal na paggalaw ng presyo ng Food and Non-Alcoholic Beverages na may 5.3% inflation at 89.0% share sa pagbaba ng pangkalahatang inflation sa bansa,” Mapa said.
“Ito ay dahil sa mas mabagal na pagtaas ng presyo ng karne, gaya ng manok, na may inflation na 11.9%; gulay, tulad ng sibuyas, na may 11.4% inflation; at isda, partikular ang tilapia, na may inflation na 9.5%,” he added.
(The reason for the eased inflation this October 2021 is slow increase in the prices of Food and Non-Alcoholic Beverages with 5.3% inflation and 89.0% share in the decrease in overall inflation of the country. This is due to slower increase in the prices of meat, which has an inflation of 11.9%; vegetables, with 11.4%; and fish, particularly tilapia, with 9.5%.)
