The inflation rate in the country would remain elevated until the end of the year, the Department of Finance (DOF) said on Wednesday, Oct. 5.

In a statement, the DOF said the high inflation would remain due to the "recent fare hike and the impact of typhoon Karding on food supply."

"However, inflation is still seen to fall within the 4.5 percent to 5.5 percent assumption of the Development Budget Coordination Committee (DBCC) for 2022," it added.

The September inflation rate soared further to 6.9 percent from 6.3 percent in August, according to the latest report from the Philippine Statistics Authority (PSA).

On Tuesday, PSA head and national statistician Undersecretary Dennis Mapa also said that high inflation would stay throughout the year due to the typhoon Karding impact, transportation fare hike, the effect of peso depreciation, and higher demands during the -ber months.

“To manage inflation, the continued timely implementation of government measures is crucial in mitigating the impact of persistent supply-side pressures on food and other commodity prices,” the DOF said.

“The country needs to produce and import the needed commodities. Given regional production and price disparities, it is equally important that these goods are efficiently distributed. The government is already looking at regions where inflation is high and which goods are driving inflation to address any bottlenecks,” it added.