National Statistician Dennis Mapa said in a press conference yesterday that headline inflation, or the rate of increase in average prices of consumer goods and services, slowed to 3.3 percent in August this year from 4.4 percent in July and 5.3 percent in August 2023.
This is the slowest since the 2.8 percent inflation print in January this year.
The August inflation is also within the Bangko Sentral ng Pilipinas’ forecast range of 3.2 to four percent for the month and falls back to the three to four percent target band for the year.
Driving the downward trend in inflation was the slower annual increment of food and non-alcoholic beverages at 3.9 percent in August from the previous month’s 6.4 percent.
Food inflation eased to 4.2 percent in August from 6.7 percent in July.
The National Economic and Development Authority (NEDA) attributed the lower food inflation largely to the significant slowdown in rice inflation, which decreased to 14.7 percent in August from 20.9 percent in July.
Mapa said this was the slowest inflation for rice since the 13.2 percent in October last year.
He said the slower rice inflation in August was in line with expectations, citing base effects and the impact of the lower tariffs on rice imports.
هذه القصة مأخوذة من طبعة September 06, 2024 من The Philippine Star.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة September 06, 2024 من The Philippine Star.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Sara moves to terminate fund misuse probe
Vice President Sara Duterte appeared at yesterday’s hearing of the House committee on good government and public accountability, but refused to take her oath and requested the committee to terminate the hearing on the past expenditures of her office.
Marcos: Cough, cold won't slow me down
President Marcos has a cough and cold, but assured the public that his situation would not slow him down.
Monsoon, Ferdie, Gener leave 20 dead, 14 missing
Twenty people were killed while 14 others remain missing due to the combined effects of the enhanced southwest monsoon and tropical cyclones Ferdie and Gener, the National Disaster Risk Reduction and Management Council (NDRRMC) said yesterday.
Former PS-DBM exec in Pharmally mess nabbed
NO SP TREAT Un the re person Pre Sara D refu take he duri hea the com ΟΙ gover and accoun The Department of Foreign Affairs (DFA) is looking at filing a resolution with the United Nations General Assembly or UNGA to address the escalating tension in the West Philippine Sea due to China's continuous aggression.
Qualified trafficking raps filed vs Alice Guo
The Department of Justice (DOJ) filed on Tuesday before a Pasig Regional Trial Court (RTC) a qualified human trafficking case against dismissed Bamban mayor Alice Guo over her alleged involvement in the Philippine offshore gaming operator (POGO) hub raided in her municipality.
PNP: Harry Roque still in Phl
Harry Roque is still in the country, the Philippine National Police (PNP) said yesterday, as the manhunt for the former presidential spokesman intensified following an arrest order issued by the quad committee of the House of Representatives.
Comelec expects last-minute surge in voter registration
As the end of the voters’ registration nears on Sept. 30, the Commission on Elections (Comelec) sees a surge in the number of aspiring voters filing their applications.
Marbil: 24 ex-PNP chiefs probed over Guo ties
An investigation is underway on 24 former chiefs of the Philippine National Police (PNP) to find out who may have aided dismissed Bamban, Tarlac mayor Alice Guo escape.
Outstanding public servants cited
President Marcos yesterday awarded outstanding public servants.
Sara wishes Willie Ong 'speedy, complete' recovery
Setting aside past political differences, Vice President Sara Duterte has wished health advocate and cardiologist Willie Ong \"a speedy and complete recovery.