RP inflation eases to 7%

RP inflation eases to 7%

MANILA: Philippine inflation rose at a slower seven percent clip in September and a 13-month low after an increase of 7.2 percent in August, the National Statistics Office said Wednesday.

The September rate was the lowest since the 6.8 percent rise recorded in August 2004, it said in a statement.

Central bank governor Amando Tetangco said the September figure was within its projected range of 6.6-7.1 percent but warned inflationary risks remained due to rising oil prices.

Month-on-month, prices in September were up 0.4 percent from August, when they rose 0.5 percent.

For the first nine months of the year, inflation averaged 7.9 percent, in line with the government's latest forecast for 2005, to be followed by 7.5 percent in 2006. -- AFP