Inflation Has Likely Gone Down In November

Inflation Has Likely Gone Down In November

Back-to-back decline in oil prices, the normalization in rice supply, and the slow but steady rise of the peso against the dollar has cause price spikes to slow down. According to the BSP’s Department of Economic Research, inflation has likely gone down to a range of 5.8 to 6.6 percent for the month of November.

Despite the decline in inflation rate, consumers will still have to face the increase in jeep and bus fares, as well as the rising power rates. These factors will partly offset the slower inflation rates in other commodoties.

BSP’s think tank said in a statement:
“Moving forward, the BSP will remain watchful of economic and financial developments to ensure the achievement of its primary mandate of price stability conducive to balanced and sustainable economic growth.”

Additionally, Finance Secretary Carlos Dominguez said that inflation would “taper off” towards the end of the year after holding at 6.7 percent in September and October.

The November inflation data is expected to come out on Dec. 5.

 

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