NEDA: Inflation outlook improving

Besides the ample supply of meat, fish, and vegetable items in the market and the easing of commodity prices, the National Economic and Development Authority (NEDA) said the easing of logistics bottleneck in the port of Manila starting September might have also contributed to the abatement of price pressures in October.

In a statement on Wednesday, Socioeconomic Planning Secretary Arsenio Balisacan said the drop in commodities prices in the international market amid improved supply was reflected in local prices. However, this favorable impact was negated by the year-on-year upward adjustments in electricity charges during the period.