Q3 inflation at 6.2% — BSP
Higher food and fuel prices drove prices higher in the past three months.
The Bangko Sentral ng Pilipinas (BSP) said inflation averaged 6.2 percent from July-September, marking three straight months of prices surging past the 2-4 percent target.
“Inflation pressures during the review quarter were attributed mainly to rising food and energy prices. Similarly, core inflation increased to 4.7 percent, higher than the rates posted in the previous quarter and a year ago,” the central bank said in a statement on Friday.
Inflation as of end-September also settled at five percent. This came as food prices as well as fuel costs continue to zoom past last year’s rates.