FOOD AND SIN PROD­UCTS CON­TINUE TO WEIGH ON IN­FLA­TION

Business World - - Front Page -

IN­FLA­TION surged anew in Septem­ber to 6.7%, mark­ing a fresh nine-year high, with the coun­try’s eco­nomic man­agers blam­ing the strong typhoon last month that wors­ened food sup­ply bot­tle­necks. This pushed the in­fla­tion’s nine-month aver­age to five per­cent, an en­tire per­cent­age point more than the ceil­ing of the of­fi­cial 2-4% full-year tar­get al­beit still be­low the cen­tral bank’s 5.2% fore­cast aver­age for 2018. The heav­ily weighted food subindex recorded a 6.3% pace with corn (11.6%), meat (6.2%), fish and seafood (12.1%), fruits (5.8%) and veg­eta­bles (10%) hav­ing above-aver­age in­fla­tion rates. Rice, which has a 9.6% weight in the con­sumer price in­dex, clocked a 4.9% in­fla­tion rate. Other com­modi­ties that posted above five-per­cent rates were to­bacco (26.3%), min­eral wa­ter, soft drinks, fruit and vegetable juices (14.4%), wine (7.5%), and beer (7.2%).

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