Economics
Quicker Philippine Inflation Could Keep Central Bank on Hold
- Consumer-price rise in November was the fastest in 20 months
- Central bank’s next rate decision is set for December 17
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Inflation in the Philippines accelerated to its fastest pace in 20 months in November on higher food and beverage costs, giving the central bank reason to pause on further rate cuts.
Consumer prices last month climbed 3.3% from a year earlier, compared with 2.5% in October, the Philippine Statistics Authority said Friday. The November figure exceeded the 2.6% median estimate in a Bloomberg survey and the central bank’s 2.4%-3.2% forecast range.