September inflation rises to 6.1% from 5.3% in August
Inflation in September climbed to 6.1 percent from 5.5 percent in August due to higher food prices, the Philippine Statistics Authority (PSA) said Thursday.
Food inflation went up to 10 percent from 8.2 percent in August due to higher inflation in rice, which rose to 17.9 percent from 8.7 percent.
The figure was the high end of the Bangko Sentral ng Pilipinas forecast of 5.3 percent to 6.1 percent.
National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said the government ''is committed to providing targeted assistance to affected vulnerable segments of the population.''
To curb rice prices from soaring, President Ferdinand Marcos Jr imposed a price cap on regular milled and well milled rice of P41 and P45 a kilo, respectively.
The cap was lifted last Wednesday as harvests have begun coming in. DMS
