A person purchase rice in Manila, the Philippines (Photo: AFP/VNA)Hanoi (VNA) – The Philippines’ year-on-yearinflation jumped to 3.3 percent in November from 2.5 percent in the previousmonth, the highest inflation registered since April, the Philippine StatisticsAuthority (PSA) said on December 4.
Inflation in November 2019 was recorded at 1.3 percent,and the country's year-to-date inflation for the year 2020 was posted at 2.6percent, still within the government's target of 2 percent to 4 percent for2020.
The PSA said the annual increase of 4.3 percent in the pricesof food and non-alcoholic beverages primarily pushed up the overall inflationin November.
Also contributing to the uptrend in the overall inflationduring the month was the higher annual increment noted in alcoholic beveragesand tobacco at 12.3 percent, the PSA added.
The PSA said core inflation, which excludes selected foodand energy items, moved up at a faster pace of 3.2 percent in November from 3.0percent in the previous month.
In November 2019, core inflation was at 2.6 percent.
The National Economic and Development Authority said theuptick is due to the restrictions on public transport imposed to curb thespread of COVID-19, the persistence of African swine fever, and damage andlosses in high value crops following the onslaught of typhoons and flooding inNovember./.
Inflation in November 2019 was recorded at 1.3 percent,and the country's year-to-date inflation for the year 2020 was posted at 2.6percent, still within the government's target of 2 percent to 4 percent for2020.
The PSA said the annual increase of 4.3 percent in the pricesof food and non-alcoholic beverages primarily pushed up the overall inflationin November.
Also contributing to the uptrend in the overall inflationduring the month was the higher annual increment noted in alcoholic beveragesand tobacco at 12.3 percent, the PSA added.
The PSA said core inflation, which excludes selected foodand energy items, moved up at a faster pace of 3.2 percent in November from 3.0percent in the previous month.
In November 2019, core inflation was at 2.6 percent.
The National Economic and Development Authority said theuptick is due to the restrictions on public transport imposed to curb thespread of COVID-19, the persistence of African swine fever, and damage andlosses in high value crops following the onslaught of typhoons and flooding inNovember./.
VNA
