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Advocates Philippines
Philippine Inflation Drops To 1.9% In September 2024: What It Means For Your Wallet
Photo credit: DA
Great news for Filipino consumers. The inflation rate in the Philippines continued its downward trend, hitting a low of 1.9% in September 2024—the lowest it’s been since May 2020, according to the Philippine Statistics Authority.
This is a significant drop compared to the 3.3% recorded in August 2024 and a massive improvement from the 6.1% inflation rate in September last year. The year-to-date average inflation from January to September 2024 now sits at 3.4%.
In simpler terms, the cost of goods and services isn’t rising as fast as it did last year. So, if you’ve noticed that your everyday expenses haven’t been as heavy on your wallet recently, this could be why. This positive shift shows a marked change in price increases, offering a bit of relief for everyone who’s been feeling the pinch over the past year.
This is a significant drop compared to the 3.3% recorded in August 2024 and a massive improvement from the 6.1% inflation rate in September last year. The year-to-date average inflation from January to September 2024 now sits at 3.4%.
In simpler terms, the cost of goods and services isn’t rising as fast as it did last year. So, if you’ve noticed that your everyday expenses haven’t been as heavy on your wallet recently, this could be why. This positive shift shows a marked change in price increases, offering a bit of relief for everyone who’s been feeling the pinch over the past year.
Oct 4, 2024
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