The inflation rate for the month of November has slowed down this month, the slowest rate in the last 20 months according to the Philippine Statistics Authority (PSA).
National Statistician and PSA chief Claire Dennis Mapa said inflation has been recorded at 4.1% which is slower than October’s 4.9%.
Inflation refers to the speed of increase in food and basic services.
This is the second month of decreasing inflation after two months of increasing inflation.
“Inflation will likely moderate over the near term due to easing supply-side price pressures and negative base effects,” the Bangko Sentral ng Pilipinas said.
“Ang pangunahing dahilan ng mas mababang antas ng inflation nitong Nobyembre 2023 kaysa noong Oktubre 2023 ay ang mas mabagal na pagtaas ng presyo ng Food and Non-Alcoholic Beverages,” Mapa said.