Philippines' Nov inflation hits 20-month high
The Philippines’ headline inflation jumped to 3.3 percent in November 2020 from 2.5 percent in October 2020. This is the highest inflation registered since April 2019.
Inflation in November 2019 was recorded at 1.3 percent.
The country’s year-to-date inflation for the year 2020 was posted at 2.6 percent.
The annual increase of 4.3 percent in the heavily-weighted food and non-alcoholic beverages primarily pushed up the overall inflation in November 2020.
Contributing also to the uptrend in the overall inflation during the month was the higher annual increment noted in alcoholic beverages and tobacco at 12.3 percent.
Meanwhile, annual mark-ups decelerated in the indices of the rest of the commodity groups, except for recreation and culture whose annual rate remained at -0.6 percent.
Similarly, core inflation moved up at a faster pace of 3.2 percent in November 2020 from 3.0 percent in the previous month. In November 2019, core inflation was observed at 2.6 percent.
Inflation for food index at the national level picked up further to 4.5 percent in November 2020, from 2.1 percent in the previous month. Its annual rate in November 2019 was seen at -0.2 percent.