Philippine inflation slows as harvests boost food supply

The biggest driver of the rise was food, which was up 7.1 per cent, but that was almost three percentage points down from the month before. - PDI

MANILA (AFP): The Philippines' inflation rate slowed sharply in October, as harvests boosted the supply of rice and vegetables in the market and took the steam out of food costs.

Consumer prices rose 4.9 per cent on-year last month, the Philippine Statistics Authority said, well down from September's 6.1 per cent.