Consumer inflation increased by 3.1% in September, up from the previous month but still below the government’s 3.5% target, The Wall Street Journal reported. The increase in the consumer-price index, which topped expectations, was due mostly to higher food prices, reflecting typhoon damage as well as seasonal factors. “The higher consumer price data may have been due to a (temporary) food supply shock,” said Tim Condon, economist at ING. “But there is nothing from this data that suggests a policy response is needed.”
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