Higher inflation rate in November not a cause for alarm, says Palace

December 6, 2019

Malacanang downplayed on Friday the rise in inflation rate in November, saying it was "not a cause for alarm."

"The increase in inflation rate in November 2019 to 1.3 percent from October 2019's 0.8 percent should not be a cause for alarm," Presidential Spokesperson Salvador Panelo said in a statement.

He noted that for the first 11 months to November, inflation averaged at 2.5 percent, which is within the 2-4 percent target for this year.

Panelo, also chief presidential legal counsel, said  inflation, which peaked at 6.7 percent last year, "has been slain through the efforts of responsible agencies, and is now a thing of the past."

"The Administration will maintain fiscal and monetary policies implemented by our economic managers to boost and further improve country's economy, while keeping inflation low for our local consumers, amidst emerging global threats," he stressed. Celerina Monte/DMS