Inflation steady at 4.9% in August

Headline inflation held steady at a year-on-year rate of 4.9 percent in August, unchanged from July but more than double the pace of 2.1 percent recorded in the comparative period last year, the latest data from the Philippine Statistics Authority (PSA) showed on Friday.

The price indices showed increases in food and non-alcoholic beverages; clothing and footwear; housing, water, electricity, gas and other fuels; furnishing, household equipment and routine maintenance of the house; as well as health costs, while posting deceleration in transport, restaurant, miscellaneous goods and services costs.