Inflation cools down for the first time in 2018 in November

MANILA, Philippines — Philippine consumers reeling from soaring prices got their much-awaited reprieve in November, which saw a softer inflation print on the back of slower price increments for food, housing and utilities, the country’s statistics agency reported Wednesday.

Inflation clocked in at 6 percent in November, slower than the previous month’s 6.7. This is the first time in 2018 that surging prices eased.

“Among the food items, slower annual gains were observed in the indices of rice, corn, fish, meat, fruits, vegetables, and sugar, jam, honey, chocolate and confectionary,” the Philippine Statistics Authority said.

The latest inflation figure was well below market and government estimates for the month.

Market forecast: 6.3%
BSP: 5.8-6.6%

This is a developing story.

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