Business News
Philippine inflation rate rises to 0.7 in September
Oct 6, 2009, 4:08 GMT
Manila - Inflation in the Philippines rose to 0.7 per cent in September due to increases in food prices, the government said Tuesday.
The National Statistics Office said September's rate was higher than 0.1 per cent in August. Inflation a year ago was 11.8 per cent.
'The overall inflation rate for food alone grew 2.1 per cent in September from 1.7 per cent in August,' the agency said.
The September inflation rate brought to 3.4 per cent the average inflation rate for the first nine months of the year.
Philippine government economists have projected the national inflation rate to average between 2.5 per cent and 4.5 per cent for the whole of 2009.
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