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MANILA, Oct.6 (Xinhua) – The Philippines’ headline inflation declined further to 2.3 percent in September 2020 from 2.4 percent in August 2020, a four-month low driven by lower food prices. and soft drinks, the Philippine Statistics Authority (PSA) said on Tuesday.
In September 2019, inflation was less than 0.9 percent. The PSA said annual inflation to date for September 2020 stood at 2.5 percent.
“The downward trend in headline inflation in September 2020 was mainly due to the slowdown in inflation for heavily weighted food and non-alcoholic beverages, which decreased at an annual rate of 1.5 percent during the month, from 1.8 percent from the previous month. “Dennis Mapa, PSA director, said at an online news conference.
Likewise, Mapa said slower inflation was registered for alcoholic beverages and tobacco by 12.9 percent, clothing and footwear by 1.8 percent, and furniture, household goods and routine house maintenance in 3.7 percent.
Core inflation, which excludes volatile food and energy selected to measure core price pressures, rose to 3.2 percent in September 2020, from 3.1 percent in the previous month.
Core inflation in September 2019 was recorded at 2.7 percent, the PSA said. Final product
