PH high inflation nothing but transitory — economic mangers

PH high inflation nothing but transitory — economic mangers

Early morning market-goers check on the prices of goods and commodities they need at the Marikina City Public Market in Marikina City on Friday (November 5, 2021) amid rising inflation.

Economic managers say the high inflation the country is experiencing amid the pandemic is nothing but transitory (temporary) amid the pandemic.

On Friday, November 5, the Philippine Statistics Authority (PSA) claimed PH’s inflation slid further down to 4.6% in October from 4.8% last September.

The PSA also reported that food inflation slowed to 5.6% in October from 6.5% in September even as fuel prices increased by as much as 32.9% or at least a peso hike per liter for at least nine (9) straight weeks since October, pushing up transportation costs in the process.

As expected, transport inflation zoomed from 5.2% to 7.1%, while private transport jumped from 16.7% to 25.5%.

(Ieshua-Jairen Asuncion/BENJAMIN CUARESMA/ai/mtvn)

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