How much does each commodity group contribute to October inflation?

Headline inflation picked up to 7.7% in October from 6.9% in September and 4% in October 2021, reaching a 14-year high since the 7.8% reading in December 2008 during the global financial crisis. This is near the high end of the Bangko Sentral ng Pilipinas’ 7.1-7.9% forecast range for that month, and marked the seventh straight month that inflation breached the central bank’s 2-4% target range for the year. Likewise, inflation among the bottom 30% of income households climbed to 7.3% from 6.7% in September, and 4.8% in October last year. This infographic shows how much each major commodity contributed to the inflation for both groups in October. For all income households, food and non-alcoholic beverages continued to contribute the most with 3.5 percentage points (ppts), followed by the utilities basket with 1.5 ppts. Similarly in the poor households, food and utilities remained the major contributor with 4.3 ppts, and 1.2 ppts, respectively.