Philippines Inflation Slows in September
Philippines annual inflation rate slowed to 4.4 percent in September of 2014 from 4.9 percent in August, mainly due to lowering costs of food and non-alcoholic beverages, utilities and transport. Core inflation was registered at 3.4 percent year-on-year, the same pace as in the previous month.
10/8/2014 4:03:45 AM
Year-on-year, prices were slowing for heavily-weighted food and non-alcoholic beverages (+7.4 percent in September from 8.3 percent in August); housing, water, electricity, gas and other fuels (+2.2 percent from +2.7 percent) and transport (+0.7 percent from +1.1 percent). In contrast, prices were higher for clothing and footwear (+3.6 percent from +3.4 percent); furnishing, household equipment and routine maintenance of the house (+2.8 percent from +2.7 percent); health (3.5 percent from 3.3 percent); communiction (+0.1 percent from +0.0 percent); recreation and culture (+1.5 percent from +1.3 percent) and reataurant and miscellaneous goods and services (+1.8 percent from +1.7 percent). Costs of education recorded at 5.1 percent, unchanged from the previous month.
The annual gain in the food alone index eased to 7.8 percent in September from 8.7 percent a month ago with slower yearly increases were noticed on rice, corn and vegetables.
On a monthly basis, consumer prices slowed 0.1 percent from a 0.3 percent increase a month earlier. Downward price pressures were seen for housing, water, electricity, gas and other fuels and transport (-0.2 percent from 0.2 percen in August), food and non-alcoholic beverages (+0.2 percent from +0.6 percent) and clothing and footwear (+0.2 percent from +0.3 percent). Uptrend prices were recorded for alcoholic beverages and tobacco (+0.2 percent from +0.1 percent); health (+0.3 percent from +0.1 percent); recreation and culture (+0.2 percent from +0.1 percent); recreation and culture and restaurant and miscellaneous goods and services (+ 0.2 percent from +0.1 percent respectively) and transport (-0.2 percent from -0.4 percent).