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Philippines Inflation December 2020

Philippines: Inflation rises to over one-year high in December

Consumer prices increased a seasonally-adjusted 0.88% from the previous month in December, slightly below the 1.05% increase recorded in November. The reading was largely attributed to higher prices for food and non-alcoholic beverages.

Inflation accelerated to 3.5% in December, up from November’s 3.3%, marking the highest inflation rate since February 2019, but still remaining within the government’s target range of 2.0%–4.0%. Meanwhile, the trend pointed up mildly, with annual average inflation coming in at 2.6% in December (November: 2.5%). Lastly, core inflation ticked up to 3.3% from November’s 3.2%.

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