Inflation eases to 4.9% in October — PSA

MANILA, Philippines — The country’s inflation rate slowed down to 4.9% during the month of October, the Philippine Statistics Authority said.

In a press conference on Tuesday, November 7, National Statistician Dennis Mapa cited the "slow increase" of prices of food and non-alcoholic beverages which posted 7.0% inflation.

This month's inflation rate is an improvement over the 7.7% recorded in October 2022 and the 6.1% from the previous month.

The average inflation rate from January 2023 is 6.4%.