October inflation jumps to 7.7%, highest since December 2008
October inflation zoomed to its highest since December 2008, the Philippine Statistics Authority (PSA) said Friday.
Inflation was at 7.7 percent, which put the average from January to 5.4 percent.
”The continued uptrend of the October 2022 inflation was primarily due to the higher annual growth rate in the index for food and non-alcoholic beverages at 9.4 percent, from 7.4 percent in September,” the PSA said.
Inflation for food at the national level increased to 9.8 percent in October from 7.7 percent in September.
Increased inflation for vegetables, tubers, plantains, cooking bananas and pulses at 16 percent and other parts of slaugthered animals at 11.5 percent “predominantly influenced” higher food inflation.
Inflation at the National Capital Region climbed to 7.7 in October from 6.5 percent in September. Areas outside NCR reached 7.6 percent from 7 percent in September. DMS
