The country’s inflation averaged 7.7 percent in October, according to the latest data released by the Philippine Statistics Authority (PSA).
Inflation in September 2022 was at 6.9 percent while the increase in commodity prices grew 4 percent in October 2021.PSA said the higher inflation data was due to more expensive food and non-alcoholic beverages at 9.4 percent, from 7.4 percent in September 2022.
The inflation data was within the Bangko Sentral ng Pilipinas (BSP) expectation of 7.1 to 7.9 percent.
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Inflation surges to 7.7% in Oct – PSA
Source: News Paper Radio
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