2024 Philippines records 1.9% annual inflation, lowest since May 2020, due to reduced food and transport costs.

In September 2024, the Philippines recorded an annual inflation rate of 1.9%, the lowest since May 2020, according to the Philippine Statistics Authority. This decline from 3.3% in August reflects reduced prices in food, particularly rice, and transport costs. The year-to-date average inflation stands at 3.4%, within the government's target range of 2% to 4%. The easing inflation signals potential shifts in the economic landscape and monetary policy considerations.

October 04, 2024
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