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By Inquirer.net

Retail prices of rice declined year-on-year for the sixth straight month in October, pulling down inflation to a 42-month low of 0.8 percent, the government reported Tuesday.

While the nationwide headline inflation rate was the lowest since April 2016’s 0.7 percent, National Statistician Claire Dennis S. Mapa told a press conference that the rate of increase in the prices of basic commodities in the National Capital Region (NCR) rose to 1.3 percent year-on-year last month from 0.9 percent in September. This, he said, was due to “higher annual increment in food and non-alcoholic beverages,” especially chicken due mainly to the African swine fever (ASF) scare.

At the national level, the average consumer prices inched up 0.2 percent in October from September levels mainly as prices of food and non-alcoholic beverages rose month-on-month.

 

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