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:
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
Because even in the Philippines' perpetual summer, a hoodie can prove to be useful.
 
Share
The Elton John biopic doesn't shy away from the darker aspects of the legendary musician's life.
 
Share
That six-pack is somewhere underneath your coat of fat.
 
Share
The Ayala Museum opens an online tour of its priceless collections and pieces.
 
Share
New guidelines allow you to keep your number even if you switch telco providers.
 
Share
Despite the rains in recent days, the National Water Resources Board lessens allocation to Maynilad and Manila Water.
 
Share
Fête de la Musique celebrates 25 years with free-for-all music events around the Philippines, and free roundtrip tickets to France.
 
Share
The classic look is being modernized and reinterpreted with new influences ranging from hip-hop to skateboarding.
 
Share
There might be one final Iron Man and Peter Parker moment in the MCU.
Load More Articles
Connect With Us