Inflation slows down to 3.1 percent in October — NSO

Inflation decelerated to 3.1 percent last October from 3.6 percent in September and 5.2 percent a year earlier, helped by lower prices of food, alcoholic beverages, and cost of entertainment and cultural activities, the National Statistics Office (NSO) reported Tuesday.   “Excluding selected food and energy items, core inflation slid to 3.6 percent in October from 3.8 percent in September,” NSO noted.   Even in Metro Manila, inflation slowed down to 2.9 percent from 3.5 percent month-on-month, the NSO noted, largely on the slow down in “the annual increments of the indices of food and non-alcoholic beverages and restaurant and miscellaneous goods and services.”   In areas outside Metro Manila, prices slowed down to 3.3 percent from 3.7 percent.   “The following indices posted slower annual hikes: food and non-alcoholic beverages; alcoholic beverages and tobacco; clothing and footwear; housing, water, electricity, gas, and other fuels; and recreation and culture,” NSO reported.   Prices of fish, cooking oil and some condiments and seasonings along with lower charges in electricity rates and lower prices of gasoline and diesel in many regions also contributed to the downtrend. — VS, GMA News