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Philippines annual inflation quickens to 6.1% in Sept on costlier food, transport

2023-10-05 01:13
MANILA Philippine inflation quickened for a second straight month in September due to increases in food and transport
Philippines annual inflation quickens to 6.1% in Sept on costlier food, transport

MANILA Philippine inflation quickened for a second straight month in September due to increases in food and transport costs, the statistics agency said on Thursday.

The consumer price index was up 6.1% in September, above the 5.3% forecast in a Reuters poll, and higher than the previous month's reading of 5.3%.

That brought year-to-date average inflation to 6.6%, still outside the central bank's 2% to 4% target for the year.

Core inflation, which strips out volatile food and fuel items, eased to 5.9% from 6.1% in August.

(Reporting by Neil Jerome Morales and Mikhail Flores; Writing by Karen Lema; Editing by Martin Petty)