The Philippine Statistics Authority reported that inflation eased to 3.9 percent in December, sustaining a two-month downtrend. The December inflation rate was down from November's 4.1 percent and significantly lower than last year's 8.1 percent. It was the slowest rate since February 2022.
(UPDATE) INFLATION eased to 3.9 percent in December , sustaining a two-month downtrend, the Philippine Statistics Authority reported on Friday.The December inflation rate was down from November's 4.1 percent and was also significantly lower than last year's 8.1 percent.It was within the 3.6 to 4.4-percent range of the Bangko Sentral ng Pilipinas (BSP) and lower than the 4.0-percent median in a Manila Times poll of economists. It was also the slowest rate since February 2022.
'The downtrend in the overall inflation in December 2023 was primarily brought about by the lower year-on-year growth in the index of housing, water, electricity, gas and other fuels at 1.5 percent in December 2023 from 2.5 percent in the previous month,' the PSA said.Food and alcoholic beverages accounted for a little over half — 53 percent share or 2.1 percentage points — of overall inflation.Food inflation fell to 5.5 percent from 5.8 percent in November, which the PSA attributed to a 9.2-percent drop in the prices of vegetables, tubers, plantains, cooking bananas and pulse
Inflation Philippine Statistics Authority December Downtrend Rate Economy
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