According to PH inflation rose to 6.1% in Sept as food prices, transport cost soared | Inquirer Business, On the heels of increasing food costs, consumer prices increased more quickly in September, presumably maintaining pressure on the Bangko Sentral ng Pilipinas to maintain its hawkish stance.
The Philippine Statistics Authority stated on October 5 that the consumer price index, a measure of inflation, sizzled to 6.1 percent in September, hotter than the 5.3 percent recorded in August.
The Philippine Statistics Authority, according to PH inflation rose to 6.1% in Sept as food prices, transport cost soared | Inquirer Business, ascribed the surge to a larger year-over-year increase in the cost of food and non-alcoholic drinks, which rose to 9.7 percent in September from 8.1 percent in August.
According to the report, the upswing was also aided by transportation, where inflation during the month was 1.2%.
The most recent result was within the BSP's projected range for the month's high and low. Additionally, for the 18th consecutive month, the central bank's goal range of 2-4 percent for inflation has been exceeded.
According to the figures, inflation has been averaging 6.6 percent for the whole year.
According to PH inflation rose to 6.1% in Sept as food prices, transport cost soared | Inquirer Business, for the fourth consecutive meeting, the BSP maintained last month what analysts referred to as a hawkish pause, but it also signaled its willingness to tighten further as long as inflation keeps stifling spending, a key engine of development.
