This was slightly faster than the previous month.
On Thursday, December 5, the Philippine Statistics Authority (PSA) reported that the headline inflation rate quickened to 2.5% in November 2024.
This was 0.2% higher than the 2.3% rate reported for October.
According to the PSA, this might have been the result of the consecutive storms that hit the country that month, notably the string composed of cyclones Marce, Nika, Ofel, and Pepito.
Core inflation, which excludes some food items and energy, was up 0.1% to 2.5% in November, compared to the previous month’s 2.4%.
Although, it was better than the November 2023 core inflation rate, which was at 4.7%.