MANILA, Nov. 5 (Xinhua) -- The Philippines' year-on-year headline inflation remained at 1.7 percent in October, the same annual growth rate recorded in September, the Philippine Statistics Authority (PSA) said on Wednesday.
At a news conference, PSA Chief Dennis Mapa said the top three commodity groups contributing to the October overall inflation rate were housing, water, electricity, gas, and other fuels with a 34.6 percent share; restaurants and accommodation services with 14.6 percent share; and food and non-alcoholic beverages with 13.0 percent share.
He said food inflation at the national level recorded a slower annual increase of 0.3 percent in October, down from 0.8 percent in the previous month.
Core inflation, which excludes selected food and energy items, slowed down to 2.5 percent in October from 2.6 percent in September.
In October 2024, the PSA noted a 2.4 percent core inflation rate.
In a separate statement, the Philippines' Department of Economy, Planning, and Development (DEPDev) said the government's efforts to stabilize prices and ensure an adequate supply of essential goods have kept inflation in check, safeguarding household welfare and promoting sustained, inclusive growth.
The DEPDev said the government remains vigilant in managing risks from weather disturbances, global market volatility, and other domestic factors that may affect prices in the coming months.
