The country's inflation rate, based on 2006 prices, rose to 5.2 percent in October this year from 4.8 percent in September due to rising consumer prices after major typhoons hit the country, particularly Luzon, National Statistics Office statistics show.

A year ago, inflation was 3.3 percent. The October inflation was within the Bangko Sentral ng Pilipinas forecast of 4.5 percent to 5.4 percent.

"This was due to higher annual increments in food and non-alcoholic beverages; alcoholic beverages and tobacco; and housing, water, electricity, gas and other fuels indices," NSO said.

In the first 10 months, inflation rate average at 4.8 percent, or within the upper range of the government target of between 3 percent and 5 percent this year. NSO said the annual rate of increment in the heavily weighted food and non-alcoholic beverages index was faster at 5.7 percent in October from 5 percent in September; alcoholic beverages and tobacco, 6.2 percent from 6.1 percent; and housing, water, electricity, gas and other fuels, 6.5 percent from 5.7 percent.

On the other hand, the annual inflation for transport index decelerated to 6.7 percent from 7.1 percent. Prices for food alone index at the national level rose to 5.8 percent in October from 5.2 percent in September.

Higher prices were noted in the vegetables index at 19.9 percent in October; corn, 12.7 percent; fish index at 8.5 percent milk; cheese and egg, 2.9 percent; fruits, 7.2 percent and food products not elsewhere classified, 3.2 percent.

NSO said the difficulty in catching fish species brought about by the inclement weather condition particularly in areas hit by the two typhoons resulted to lower supplies in the market.

Prices in Metro Manila went up to 4.9 percent in October from 4.2 percent in September. In areas outside Metro Manila, inflation picked up to 5.3 percent in October from 5 percent in September.*PNA

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