Philippines Inflation Rate Edges Up to 3.3% in November

In November of 2013, Philippines inflation rate rose for the third straight month to 3.3 percent, 0.4 percent higher than October’s figure. Upward pressures came from higher food, housing and transport prices due to the effects of Typhoon Haiyan. Inflation a year ago was reported at 2.8 percent.

On an annual basis, the rise in the heavily-weighted food and non-alcoholic beverages index was higher at 3.9 percent in November from 3.2 percent in October. A double-digit annual increment was noted in the rice index at 10.7 percent in November from 9.4 percent in October.

The housing water, electricity, gas and other fuels index accelerated to 1.9 percent from 0.8 percent; furnishing, household equipment and routine maintenance of the house index increased to 2.3 percent from 2.2 percent; and transport index, 0.7 percent from 0.5 percent. Those for the rest of the commodity groups were either slower or remained at their last month’s rate.

On a monthly basis, the inflation rate went up to 0.4 percent in November from 0.1 percent in October. From a 0.4 percent decline in October, the index for housing, water, electricity, gas and other fuels climbed 1.3 percent in November. Moreover, a faster rate of increment was also noticed in the health index at 0.2 percent from zero growth. 

Philippines Inflation Rate Edges Up to 3.3% in November

National Statistics Office | Joana Taborda |
12/5/2013 9:27:01 AM