PHL posts 3% inflation rate in November — NSO

The Philippines registered a 3 percent inflation rate in November, from 2.8 percent in October and also from 2.8 percent a year earlier, the National Statistics Office (NSO) reported Tuesday. The inflation last month was up by 7 percent compared to the 2.8 percent posted in October. While the inflation in November was faster than the rate a month earlier, it was slower than the 4.4 percent rate the country experienced in April — the highest in the twelve months to November. [See graph.]

The inflation rate in November is slower than the 4.4 percent recorded in March and April. Source: National Statistics Office

In a statement, the NSO largely attributed the faster paced month-on-month inflation to the annual growth in the fuel, light and water index, which rose to 12 percent from 8.3 percent in October. "Higher annual rates of price increments in housing and repairs and services index also contributed to the uptrend," the NSO said. Excluding selected food and energy items, the core inflation rose to 3.5 percent in November from 3.3 percent in October, the NSO added. — TJD/VS, GMANews.TV