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The country’s inflation rate continued its acceleration streak for the second straight month in November due to faster rise in food and transportation costs during the period, the Philippine Statistics Authority reported on Thursday.At a press conference, National Statistician and PSA chief Undersecretary Claire Dennis Mapa said inflation —which measures the rate of increase in the prices of goods and services— quickened further to 2.5% last month.This was faster than the 2.
“Despite the strong typhoons our country faced in recent months, consumer prices have remained relatively stable. This demonstrates the resilience of our economy and the effectiveness of our policies,” National Economic and Development Authority Secretary Arsenio Balisacan said in a statement.Balisacan, nonetheless, noted that the government is closely monitoring prices of commodities, especially food, in the wake of successive typhoons in October and November.
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