World News
Home > World News
Philippines inflation rate hits 20-month low
TIWN
TIWN
PHOTO : TIWN
Manila, Dec 5 : The Philippine Statistics Authority (PSA) on Tuesday said that year-on-year inflation in the country further eased to 4.1 per cent in November, the lowest since March 2022, mainly due to lower food prices.
The November inflation rate, down from 4.9 per cent in October, brought the national average inflation from January to November this year to 6.2 per cent. In November 2022, the inflation rate was higher at 8 per cent, reports Xinhua news agency.
In a press conference, PSA's head Dennis Mapa said the drop in the overall inflation in November was primarily brought about by the lower year-on-year growth rate of the heavily weighted food and non-alcoholic beverages at 5.7 per cent in November from 7 per cent in October.
Add your Comment
Comments (0)
More World News
- Biden, Zelenskyy sign new 10-year security agreement
- ‘What the hell are you waiting for?’ Senators grill FDA, DOJ about lack of action on youth vaping epidemic
- Sen. Lindsey Graham says he will block Democrats' effort to unanimously pass Supreme Court ethics bill
- India is about to pass China as the world's most populous country
- At least 49 dead in fire at building housing workers in Kuwait