Wednesday, October 27, 2021

Inflation hits 2-year high

MANILA — Consumer prices moved at their quickest pace in two years, owing to higher annual increments in items such as fuel, alcoholic beverages and tobacco, and education, the government reported Tuesday.

The National Statistics Office (NSO) recorded the inflation rate at 5.2 percent in June, the highest since April 2009’s 5.6 percent.

The figure fell within the Monetary Board’s forecast of 4.6 to 5.5 percent for the month. Last May’s inflation rate was at 4.5 percent.

Across regions, annual inflation in the National Capital Region rose to 4.7 percent in June from 4.4 percent in May.

Annual increases were higher in clothing and footwear; housing, water, electricity, gas and other fuels; transport; and education index.

For areas outside NCR, consumer prices jumped to 5.3 percent in June from 5.1 percent in May.

This was due to higher annual growths registered in alcoholic beverages and tobacco; clothing and footwear; housing, water, electricity, gas, and other fuels; education; and restaurants and miscellaneous goods and services index. (Virgil Lopez/Sunnex)
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