PH inflation rate hit 20-month high
The Philippine inflation rate accelerated to its highest level in 20 months this November due to the consecutive typhoons that ravaged the country.
According to the Philippine Statistics Authority (PSA), inflation rose 3.3% last month from a year earlier, which is outside the central bank’s projected range of 2.4% to 3.2% for the month.
The country’s inflation rate averaged 2.6% in the January-November period of this year, which is still below the midpoint of the official 2% to 4% target range.
