National Statistician Dennis Mapa attributed the slowdown in Metro Manila to lower electricity rates. The Manila Electric Company announced lower rates during the month. Lower global oil prices have tempered some of the price pressures as well.
Transport costs have also gone up given the recently approved P2 increase in jeepney fare nationwide. “We are still yet to see the peak in inflation near 7% in October should global price pressures from oil, energy and food remain substantial,” Neri said. Food prices rose at a faster pace in areas outside Metro Manila, with food inflation rising to 7%, while Metro Manila posted a slower rate of 5.1%.
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