MANILA — According to the Philippine Statistics Authority, the country’s inflation rate slowed down to 4.9% during the month of October.
National Statistician Dennis Mapa cited during the press conference on Tuesday the “slow increase” of prices of food and non-alcoholic beverages which posted 7.0% inflation.
The inflation rate this month is an improvement over the 7.7% recorded in October 2022 and the 6.1% from the previous month.
From January 2023, the average inflation rate is 6.4%.
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