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.
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).
10/8/2014 4:03:45 AM