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Inflation eases to 1.69% in October
06 November, 2024
Inflation eased in October, with the Consumer Price Index up just 1.69% year-on-year, the lowest rate in over three and a half years.
The Directorate-General of Budget, Accounting, and Statistics credits falling prices in eggs, fuel, and airfares for offsetting cost increases in rent, dining out, and cooking oil. Typhoon Krathon did push produce prices higher, but overall inflation pressure continues to cool. The core CPI, which excludes volatile food and energy items, also dropped to a 1.64% annual increase. Meanwhile, the CPI for essential household goods saw a 0.62% decline, marking a wider drop from September.
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