Sept inflation seen at 3.4% – DoF

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THE Department of Finance (DoF) said headline inflation in September likely accelerated to a four-month high of 3.4 percent, driven by higher prices of food and non-food commodities.

The forecast figure is higher than the 3.1 percent registered in August this year and the 2.3 percent rate recorded a year earlier.

Consumer price growth picked up pace in July to 2.8 percent from 2.7 percent in June.

In March and April, growth in prices was steady at 3.4 percent, easing to 3.1 percent in May.


The last time the country’s inflation rate exceeded 3.4 percent was in November 2014, when it hit 3.7 percent.

The government has a working target to keep the inflation rate at between 2 percent and 4 percent for any given month this year and for full-year 2017.

MAYVELIN U. CARABALLO

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