(MENAFN) According to the Filipino central bank, the country's inflation rate has hit its peak for the year in July and August when it stood at 4.9 percent, Xinhua reported.
In September, inflation eased to 4.4 percent due to lower increases of food prices and housing and utility rates, while in August and July it hit 4.9 percent when consumer prices soared to a 33-month high.
"Inflation in the remaining months of the year could be tempered by moderating oil prices in global markets and the slowing global," Philippine central bank (BSP) Deputy Governor said.
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