Philippine inflation rate accelerates to 6.9% in Sept ...Middle East

MANILA: Year-on-year inflation in the Philippines accelerated to 6.9 per cent in September from 6.3 per cent in August, the highest since October 2018, the Philippine Statistics Authority (PSA) said on Wednesday.Xinhua said the latest figure brings the average inflation in the first nine months to 5.1 per cent.PSA head Dennis Mapa said the increase in the prices of essential food commodities and electricity rate, as well as the depreciation of the Philippine peso, drove the inflation rate in September.Mapa said the prices of food and non-alcoholic beverages registered a higher annual growth rate of 7.4 per cent, followed by housing, water, electricity, gas, and other fuels, which registered

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