PSA: Inflation slows down to 4.2 percent in November

(Eagle News) — Inflation or the rate of increase in the prices of commodity goods and services over a period of time, clocked in at 4.2 percent in November, indicating slower growth in such prices.

According to the Philippine Statistics Authority, the 4.2 percent was slower than the 4.6 percent inflation rate recorded in October.

With the 4.2 percent inflation rate, the PSA said the average inflation from January to November 2021 remained at 4.5 percent.

According to the PSA, the downtrend in the overall inflation was primarily brought about by the slowdown in the inflation for heavily-weighted food and non-alcoholic beverages indexes.

It said these slid to 3.9 percent during the month, from the 5.3 percent logged in October.

The PSA said lower inflation was also recorded in the indices of tobacco and others at 7.5 percent, and furnishing, household equipment, and routine maintenance of the house at 2.4 percent.

Inflation rates, however,  moved faster for housing, water, electricity, gas and other fuels at 4.6 percent, and transport at 8.8 percent.

In the National Capital Region, inflation decelerated further to 2.9 percent in November.

In October, the PSA said the inflation rate in Metro Manila was at 3.2 percent.

Similar to the trends at the national level and the NCR, inflation in areas outside Metro Manila slowed down to 4.5 percent in November, from 5.0 percent in October, according to the PSA.

“Relative to their annual growth rates in October 2021, nine regions in AONCR had lower inflation during the month,” the PSA said.