Philippines: Inflation slows markedly to year low
December 5, 2014
In November, consumer prices fell 0.1% over the previous month, contrasting October’s 0.1% rise. November’s drop was largely driven by a steep decline in prices for electricity, gas and other fuels.
Annual inflation dropped significantly from October’s 4.3% to 3.7% in November, the lowest level in a year. Meanwhile, annual average inflation, which is the reference rate used by the Central Bank as a guide for monetary policy, in November remained at October’s 4.3%.
The core inflation index, which excludes volatile items such as food and oil, was unchanged in November over the previous month, mirroring October’s reading. Finally, annual core inflation edged down from October’s 3.2% to 2.7% in November, which represented the lowest rate in 13 months.