Inflation hits 42-month low of 0.8 percent

November 5, 2019

Inflation in October fell to a 42-month low as it came in at 0.8 percent, the Philippine Statistics Authority ( PSA) said Tuesday.

''This is the lowest inflation recorded since May 2016, in which the inflation rate was posted at 0.9 percent,'' PSA said in a statement.

Inflation in September was higher at 0.9 percent and in October 2018, 6.7 percent.

The downtrend in the inflation was mainly due to the 0.9 percent annual drop registered in the heavily-weighted food and non-alcoholic beverages index, PSA said.

The annual rate of transport index declined further by 1.7 percent during the month. 

In the National Capitol Region, inflation  was higher at 1.3 percent in October . Inflation in the area in September 2019 was posted at 0.9 percent and in October 2018, 6.1 percent, PSA said.

Inflation in areas outside NCR decelerated to 0.7 percent in October. In the previous month, inflation was observed at  0.9 percent and in October 2018, 6.8 percent.

Twelve regions in areas outside NCR had negative or lower annual rates in October. 

The lowest annual rate of -1.3 percent was still seen in Zamboanga Peninsula, while the highest inflation of  2.3 percent was recorded in  Central Luzon. DMS