MANILA -The increase in prices of goods and services that the average Filipino household buys may have slowed down for the second month in a row, down to within the range of 4 percent to 4.8 percent in November, according to the Bangko Sentral ng Pilipinas.
The entire range is below the 4.9-percent headline inflation that was recorded for October 2023. The Philippine Statistics Authority will announce the official numbers by Dec. 5.
“Lower prices of vegetables and petroleum products along with the peso appreciation could [have contributed] to downward price pressures” on prices in November, the BSP said in a statement.
The central bank added that higher prices of most agricultural commodities like rice, fruit, fish, and meat items as well as changes in electricity, LPG, and toll rates were the primary sources of upward price pressures last month.