Business & Investment

Inflation rate accelerates to 3.5% years / year in December

Headline inflation surged to 3.3% in November as food prices soared. -Photo: Michael Varcas, Philippine star

Manila-Philippines annual inflation rose to 3.5% faster than expected in December. This is because the heavy food and non-alcoholic beverage sector has reached its highest level since February 2019.

This brings the average for the full year of 2020 to 2.6%, but still within the official target range of 2% to 4%.

However, the December headline numbers were above the median of 3.1% predicted by Reuters polls and near the central bank’s forecast range of 2.9% to 3.7%.

Core inflation, excluding volatile food and fuel prices, rose from 3.2% in November to 3.3%. — — Reuters



Inflation rate accelerates to 3.5% years / year in December

https://www.bworldonline.com/december-inflation-accelerates-to-3-5-yr-yr/ Inflation rate accelerates to 3.5% years / year in December

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