September inflation rate soared to 6.1 percent, but lawmakers are optimistic that prices of goods and services will likely dissipate this month.

Albay Rep. Joey Salceda and Quezon Rep. Mark Enverga, who head the House Committee on Ways and Means, and Agriculture and Food Committee, respectively, were one in saying that the inflation, or the rate of increase in the prices of goods and services, will not be perceptible this October due to the lifting of rice price ceiling and the ongoing harvest season.

The Philippine Statistics Authority reported on Thursday that commodity prices jumped anew in September, with the inflation rate rising to 6.1 percent from 5.3 percent in August, bringing year-to-date inflation to 6.6 percent.

September's inflation rate was the sharpest in four months.

Salceda said the uptick can be solely attributed to rice price spikes and the global surge oil price spike in September. However, he believes that this could dissipate this month as global oil prices experienced a significant decline towards the end of September and with compliance with the rice price ceiling imposed by President Ferdinand Marcos Jr.

The price cap on rice, recently enforced by the President via Executive Order 39, intends to exert pressure on individuals or entities holding rice inventories to sell it at a reasonable price in hopes that this move will purge the supply shortage and price increase.

EO 39 sets the price of regularly milled rice to P41 while P45 is for well-milled rice. However, Mr. Marcos lifted the price cap on Wednesday, or a day before the imposition mark its first month.

While rice prices went up 17.9% year-on-year in September, Salceda noted global rice prices took a nosedive in late September and are now at their lowest point since early August.

Salceda, however, forecasted that September inflation is "probably the worst inflation rate we will record for the "ber" months, and it gets better from here."

Despite having optimistic forecasts for the inflation rate in October and subsequent periods, the economist-lawmaker asserts the necessity of implementing measures to alleviate potential risks.

"Food prices still need to be watched out for, especially because the ber months typically tend to be bonus season, which is naturally inflationary," he said.

In the same vein, Enverga anticipates a steady decline in inflation rates, and this month's will be on a downward trend due to the ongoing harvest season, which "historically plays in stabilizing prices and alleviating economic pressures on the public."

Harvest season starts in September and will last up to November.

"As the harvest season approaches, we can anticipate stabilization and, eventually, a decrease in inflation rates. Our nation's agricultural sector is a cornerstone of our economy, and the bountiful harvests ahead will undoubtedly have a significant impact on curbing inflation," Enverga pointed out.

Moreover, he emphasized the decrease in the pricing of crucial agricultural commodities, such as sugar, attributable to strategic changes implemented within the farming industry.

September inflation is primarily attributed to higher food prices, which surged 10 percent from 8.2 percent in August.

Key contributors include rice (17.9% from 8.7%), meat (1.3% from -0.1%), fruits (11.6% from 9.6%), and corn (1.6% from 0.9%).

In contrast, the prices of sugar, fish, vegetables, eggs and dairy products, and bread and cereals experienced slower inflation.