Industry

PH Inflation Eases to 6% in November; First Time in 2018 for Prices to Slow

Inflation was at 6.7% in October and September.
IMAGE Pixabay
Comments

The Philippine headline inflation eased to six percent year-on-year in November from 6.7 percent in October, the Philippine Statistics Authority (PSA) announced on December 5.

This is the first time the movement at which the prices of consumer goods accelerate in the country has gone down since the start of the year, as it has continuously picked up from 3.4 percent in January to level at 6.7 percent in September and October.

READ RELATED STORY: Inflation Remained at 9-year High of 6.7% in October |

In a joint statement in September, the Duterte administration’s economic managers comprising of officials of the National Economic Development Authority (NEDA), Department of Finance (DOF) and Department of Budget Management (DBM) expressed confidence that inflation will taper off by the end of the year.

“These clear signs of easing boost our confidence that inflation will taper off by year-end and go back to our target range by early next year. But we must couple this optimism with quick and focused actions in order to sustain gains made so far in keeping inflation in check,” the economic team wrote.

ADVERTISEMENT - CONTINUE READING BELOW

The PSA noted that the slowdown in the annual increases in prices were manifested in the following commodity baskets: food and non-alcoholic beverages at 8.0 percent; housing, water, electricity, gas and other fuels, 4.2 percent; and communication, 0.4 percent.

Prices of consumer goods in the National Capital Region also further decelerated year-on-year to 5.6 percent from 6.1 percent in October. In fact, every region in the country saw inflation slowdowns in November except for Central Luzon, which maintained it at 4.4 percent.

Central Luzon also recorded the slowest increases in prices, while the Bicol Region still had the fastest increases in consumer goods at 8.9 percent.

Comments
View More Articles About:
Recommended Videos
About The Author
Pauline Macaraeg
Esquire Philippines
Pauline is Esquire Philippines’ data journalist. Follow her on Twitter @paulinemacaraeg.
View Other Articles From Pauline
Comments
Latest Feed
 
Share
Star Trek? Django 2? Kill Bill 3? An Aussie crime thriller?
 
Share
 
Share
The sakura trees were gifts from Kochi Prefecture and the Japanese embassy.
 
Share
It's all about that rockstar feel and the attitude that comes with it.
 
Share
 
Share
You've heard of Santa Cruz Island, but it's not the only one.
 
Share
See what’s next, new, and now for men here.
 
Share
Did you also fall for one of these predictions?
 
Share
Tourists escape crater lake minutes before its eruption as seen in this gripping footage.
 
Share
The densely populated NCR is at high risk of spreading polio faster.
Load More Articles
Connect With Us