MANILA, Dec. 5 (Xinhua) -- The Philippines' overall inflation rate increased to 2.5 percent in November, driven by higher inflation in food, the Philippine Statistics Authority (PSA) said Thursday.
The November inflation rate brought the national average inflation from January to November to 3.2 percent. In November 2023, inflation rate was higher at 4.1 percent.
PSA chief Dennis Mapa told a news conference that the main contributor to the uptrend was the food and non-alcoholic beverages index, which increased from 2.9 percent in October to 3.4 percent in November.
Mapa also noted "a notable decline" in rice inflation, which dropped to 5.1 percent in November from 9.6 percent in October.
Mapa said core inflation, which excludes selected food and energy items, increased to 2.5 percent in November from 2.4 percent in October. In November 2023, core inflation was faster at 4.7 percent.
National Economic and Development Authority Secretary Arsenio Balisacan emphasized that the government has been closely monitoring prices of commodities, especially food, in the wake of successive typhoons in recent months.
The typhoons adversely affected food supply and logistics, resulting in a rise in food inflation to 3.5 percent in November from 3 percent in the previous month, he said. ■
