September inflation quickens to 6.9%

THE country’s headline inflation rate rose to 6.9 percent in September, significantly higher than the 6.3 percent in August this year.

The PSA said the acceleration in the country’s inflation rate in September was primarily due to the higher annual growth rate in the index for food and non-alcoholic beverages at 7.4 percent, from 6.3 percent in August 2022. The Bangko Sentral ng Pilipinas said the September inflation is within its forecast range of 6.6 to 7.4 percent.

“Today’s inflation is far more complex than what we have seen in recent decades. The government and its stakeholders need to collaborate for shared solutions. In the near-term, ensuring sufficient food supply, while assisting the most vulnerable sectors will help us hurdle the current challenges,” Balisacan said.The BSP noted that upside risks continue to dominate the inflation outlook in the near term.

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