Philippine consumer price inflation held steady in October, in line with expectations, figures from the Philippine Statistics Authority showed Thursday.
The consumer price index rose 0.4 percent year-over-year in October, the same rate of increase as in the prior month. The figure was also matched with consensus estimate.
Excluding selected food and energy items, core inflation accelerated slightly to 1.5 percent in October from 1.4 percent in September.
Prices of food and non-alcoholic beverages climbed 0.7 percent annually in October and clothing and footwear prices grew by 2.2 percent. At the same time, utility costs decreased 2.1 percent.
On a monthly basis, consumer prices edged up 0.1 percent in October, in contrast to a 0.2 percent fall in the preceding month.
In an another report, the statistical office revealed that producer prices declined at a faster pace of 8.1 percent in September from a year ago, following a 7.9 percent decline in August.
Pries of petroleum products plunged 22.2 percent yearly in September and that for electrical machinery dipped by 17.0 percent.
Month-on-month, producer prices rose 0.6 percent in September, reversing a 0.1 percent slight drop in the previous month.
The material has been provided by InstaForex Company – www.instaforex.com