Inflation up 1.3% in Nov.

Credit to Author: Tempo Desk| Date: Thu, 05 Dec 2019 09:13:13 +0000

Inflation rose to 1.3 percent in November, the highest after the 1.7 percent last August, from 0.8 percent in October primarily due to faster price increase in alcoholic beverages and tobacco.

The latest inflation rate, however, is way below the six percent in the same period last year.

The average inflation to date stood at 2.5 percent, still within the government’s two to four percent target band, Philippine Statistics Authority head Claire Dennis S. Mapa announced in a briefing yesterday.

Other drivers of the inflation rate last month are housing, water, electricity, and gas and other fuels; furnishing, household equipment and routine maintenance of the house, health, and communication.

On the other hand, inflation in the heavily weighted food and non-alcoholic beverages posted a zero percent annual growth last November from 0.9 percent decline in the previous month.

Among the meat products, Mapa said the inflation rate of chicken rose by about 20 percent and beef by around five percent while inflation rate of pork posted a higher negative rate of -6 percent from -4 percent last October.

He said the upticks in the prices of chicken and beef were noted s
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