MANILA, Philippines—Inflation in the Philippines eased to 4.8% in September from 4.9% recorded in August, the Philippine Statistics Authority (PSA) reported on Tuesday.
The latest headline inflation rate is at the lower end of the Bangko Sentral ng Pilipinas’ (BSP) forecast range of 4.8 to 5.6% for September 2021, according to the National Economic and Development Authority.
The PSA also reported that the slower pace in the overall inflation in September 2021 was mainly due to the lower annual rate of increment in the transport index at 5.2% during the month, from 7.2% in the previous month.
Food inflation decreased to 6.5% in September from 6.9% in August due to slower inflation rates in rice, fish, and meat. Rice inflation recorded zero growth, following the issuance of EO 135. Likewise, fish inflation decelerated to 10.2% from 12.4%.
Socioeconomic Planning Secretary Karl Kendrick T. Chua said, “The proactive implementation of Executive Order (EO) 133 and 134 have helped stabilize pork prices. The government is continuously accelerating and calibrating its implementation so we can further lower pork prices towards their pre-African Swine Fever level.”
The government adopted EOs 133 and 134 in May 2021 to help increase the supply of pork in the country amid its shortage due to the African Swine Fever (ASF). AAC
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