SunStar Publishing Inc.
THE Philippines’ inflation rate slowed down to 4.9 percent in October 2023, the second lowest monthly inflation for this year so far, the Philippine Statistics Authority said Tuesday, November 7, 2023.The PSA said the headline inflation in October was 1.2 percent lower than the inflation rate in September which was at 6.1 percent and also much lower than the 7.7 percent in the same month in 2022.This makes the year-to-date inflation rate at 6.
Lower year-on-year growth rates were noted in the indices of flour, bread and other bakery products, pasta products, and other cereals; meat and other parts of slaughtered land animals; fish and other seafood; sugar, confectionery and desserts; and ready-made food and other food products.“In addition, corn index recorded an annual decrease of 2.4 percent during the month from an annual growth rate of 1.6 percent in September 2023, while oils and fats index decreased further at 2.
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