Inflation rose to 2.5% in November 2024

INFLATION continued to rise for the second consecutive month in November, driven by higher food and transportation costs, the Philippine Statistics Authority (PSA) reported on Thursday.

National Statistician and PSA chief Undersecretary Claire Dennis Mapa announced at a press conference that inflation, which tracks the price increase of goods and services, increased to 2.5% in November. This marked a rise from the 2.3% inflation rate recorded in October.

With November’s inflation rate, the year-to-date average inflation now stands at 3.2%, remaining within the government’s target range of 2% to 4% for the year 2024.