November inflation faster than expected, gov’t data shows

By: Paolo G. Montecillo - 8 years ago

Inflation was faster than expected in November after utility rate increases and the effects of typhoon “Lando” (international name: Koppu), government data released Friday showed.

The Philippine Statistics Authority (PSA) said inflation reached 1.1 percent in November, shooting past most estimates. In October, consumer prices rose an average of 0.4 percent—a record low.

November’s inflation rate missed most analyst estimates. All banks polled by the Inquirer gave forecasts of below 1 percent, while the Bangko Sentral ng Pilipinas (BSP) last week said it saw inflation at 0.4 to 1.2 percent. CDG