MANILA – According to the Department of Finance (DOF), the minimal changes in consumer goods prices on basic commodities in the country ensured a lower inflation rate this month.
Finance Undersecretary Gil Beltran projected 0.5 percent inflation this September, lower than from August’s 0.6 percent and July’s 0.8 percent.
“Inflation in September is expected to stay below one percent… The slow rise in prices is tempered and will continue to be tempered by tamed food price changes,” Beltran said in an economic bulletin.
He also disclosed that the developments in the international market continued to entail lower prices in fuel, transportation and electricity rates.
It will be the third time this year that the inflation rate fell below 1 percent. It can be noted that the national government aimed for a 2 to 4 percent target for 2015.
Beltran, however, noted that the expected El Niño phenomenon may result to increased inflation rate by the end of this year.