(Eagle News) — Inflation accelerated to 3.3 percent in November, the fastest since April 2019, the Philippine Statistics Authority said on Friday, Dec. 4.
According to the PSA, the inflation rate recorded last month was a jump from the 2.5 percent registered in October, the 1.3 percent recorded in November 2019.
The PSA said the country’s year-to-date inflation for 2020 was at 2.6 percent.
The agency attributed the overall acceleration to the annual increase of 4.3 percent in the heavily-weighted food and non-alcoholic beverages.
“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,” the PSA said.
It said annual mark-ups decelerated in the indices of the rest of the commodity groups, except for recreation and culture.
The PSA said their annual rate remained at -0.6 percent.
