November inflation up after five months of decline

December 5, 2019

Inflation accelerated to 1.3 percent in November, snapping a five-month downward movement, the Philippine Statistics Authority ( PSA) said on Thursday.

Inflation in October was recorded at 0.8 percent and in November 2018, 6.0 percent.

Higher annual increases were seen in the indices of the following commodity groups which resulted to the increase in  November inflation:

Alcoholic beverages and tobacco, 17.6 percent;

Housing, water, electricity, gas, and other fuels, 1.2 percent;

Furnishing, household equipment and routine maintenance of the house, 2.8 percent;

Health, 3.1 percent; and

Communication,  0.3 percent.

Slower annual gains were, however, observed in the indices of clothing and footwear at 2.6 percent; and restaurant and miscellaneous goods and services, 2.7 percent.

The annual rate of the transport index went down further by 2.4 percent during the month.

The index of the heavily-weighted food and non-alcoholic beverages was zero from 0.9 percent annual drop in October.

The food index posted an annual decline of 0.2 percent in  November. Inflation for food in October was recorded at -1.3 percent, while in November 2018, it went up by 7.7 percent. DMS