MANILA, Philippines — The country’s headline inflation decelerated in October 2021, registering decreasing prices of basic goods and services, the Philippine Statistics Authority (PSA) announced Friday, November 5.
The PSA, in its Summary Inflation Report Consumer Price Index report, said the inflation eased further to 4.6 percent in October 2021 from 4.8 percent in September 2021.
It added that this brings the year-to-date inflation from January to October 2021 at 4.5 percent.
Inflation in October 2020 was posted at 2.5 percent.
“The main source of the downward trend of the October 2021 inflation was primarily due to the slower annual increment registered in food and non-alcoholic beverages index at 5.3 percent, from 6.2 percent in September 2021,” the agency said.
“Na-balance siya, nagkaroon tayo ng pagtaas sa petroleum and LPG na nagkaroon ng impact sa transport and component ng Household, Water, Electricity, Gas and other fuels, but the prices of food dropped. Of course, we saw that the meat prices particularly pork bumaba siya,” said Usec. Dennis Mapa, Philippine Statistics Authority head.
Contributing also to the downward trend in the overall inflation were the lower inflation recorded in the indices of the following commodity groups:
- Alcoholic beverages and tobacco, 9.8 percent;
- Education, 0.7 percent; and
- Restaurant and miscellaneous goods and services; 3.8 percent.
On the other hand, inflation rates were higher in the indices of the following commodity groups:
- Housing, water, electricity, gas, and other fuels, 4.4 percent;
- Furnishing, household equipment, and routine maintenance of the house, 2.5 percent;
- Health, 3.2 percent
- Transport, 7.1 percent; and
- Recreation and culture, 1.0 percent.