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Food woes as Philippine inflation rises sharply

Published on Aug 5, 2014 5:58 PM
 
An elderly women buys rice at a market in Manila on Tuesday, Aug 5, 2014. Philippine inflation shot up to a nearly three-year high of 4.9 per cent in July, as millions of poor Filipinos endured steep price rises for essential foods, official data showed Tuesday. -- PHOTO: AFP

MANILA (AFP) - Philippine inflation shot up to a nearly three-year high of 4.9 per cent in July, as millions of poor Filipinos endured steep price rises for essential foods, official data showed Tuesday.

The consumer price increase was the highest since it spiked by 5.2 per cent in October 2011.

"This was mainly due to the jump in the growth of the heavily-weighted food and non-alcoholic beverages index," the National Statistics Office said in a statement.

Also on the uptrend were housing, tap water, electricity and petrol prices, as well as transport costs and tuition fees, it added.

 
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