August Inflation rate at 12.5 percent
Data from the National Statistics Office (NSO) shows that August inflation was at 12.5 percent, up from the revised 12.3 percent hike in July. Inflation from January to August is now at 8.8 percent. This shows an inflation rate close to a 17-year high for the Philippines.
According to the NSO, commodities recorded higher inflation except those under food, beverage and tobacco.
Food inflation was at 18.1 percent in August compared to 18.6 percent in July. Inflation of rice is down to 45.1 percent compared to 50 percent in July. The cost of fuel,light and water rose to 7.2 percent in August as compared to 5.5 percent in July. For housing and repair, inflation rose to 5 percent in August compared to 4.6 percent in July. Services rose to 13.5 percent from 12.5 percent in July. Clothing rose to 4.6 percent in August, in July it was 4.5 percent.
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