• Inflation up 3.1% in Aug — PSA

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    INFLATION rose to 3.1 percent in August, from 2.8 percent in July, and from the 1.8 percent rate recorded in the same period in 2016, data released by the Philippine Statistics Authority on Tuesday showed.

    “This was mainly due to the 3.5 percent growth of the heavily-weighted food and non-alcoholic beverages index,” the statistical agency said in an accompanying statement.

    Contributing also to the uptrend were the higher annual increases in the indices of the following commodity group: alcoholic beverages and tobacco (6.3 percent); housing, water, electricity, gas and other fuels (2.8 percent); transport (4.4 percent); communication (0.3 percent); recreation and culture (1.4 percent); and restaurant and miscellaneous goods and services (2.2 percent), it added. MAYVELIN U. CARABALLO

     

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