HEADLINE inflation increased to 3.4 percent year-on-year in September from 3.1 percent in August in line with BSP staff forecasts.

The resulting year-to-date average inflation rate of 3.1 percent remains within the government’s target range of 3.0 percent ± 1.0 percentage point for 2017.

Core inflation—which excludes certain volatile food and energy items to measure underlying price pressures—rose to 3.3 percent in September from 3.0 percent in the previous month.

On a month-on- month seasonally-adjusted basis, headline inflation accelerated to 0.7 percent in September from 0.2 percent in the previous month. (PR)