Current rate is a massive drop from last year’s figures

The Philippine Statistics Authority published their inflation report for October 2019 yesterday, which showed rates remained low at 0.8 percent. The figure is a marginal drop from the prior month’s rate of 0.9 percent.
Inflation refers to the general costs of goods and services.
The agency credited the rate to minor declines in the food and non-alcoholic beverages index.
In addition, the transport index also saw a drop in inflation.
However, while areas outside of the National Capital Region (NCR) saw an overall inflation rate of 0.7 percent, the figure was offset by the NCR rate, which was recorded at 1.3 percent.
Meanwhile, the current figure remains a massive drop from the same period last year, when inflation spiked at 6.7 percent.
The current rate is the lowest since April 2016./WDJ