November inflation decreased to 6 percent from 6.7 percent in October, the Philippine Statistics Authority (PSA) announced on Wednesday.
“The annual headline inflation in the Philippines exhibited a slower pace of 6.0 percent in November 2018. Its annual rate in the previous month was 6.7 percent and in November 2017, 3.0 percent,” National Statistician Lisa Grace Bersales told reporters.
Data from the PSA said this was primarily driven by the decline in the prices of food and alcoholic beverages which stood at only 8.0 percent from the previous 9.4 percent.
Likewise, housing and other utility rates for November dipped at 4.2 percent versus the recorded 4.8 percent month-ago.