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Inflation eases to 4.2 percent in November

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ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="Shoppers go around the Divisoria market in Manila on Sunday, November 14, 2021. The National Capital Region may go on COVID-19 Alert Level 1 by December 1 according to the Inter-Agency task Force on COVID-19. But the agency also warned of another surge if people fail to strictly observe minimum health protocols. Mark Demayo, ABS-CBN News" src="http://sa.kapamilya.com/absnews/abscbnnews/media/2021/news/12/07/20211114-covid19-divisoria-christmas-2md_9204-md.jpg"/><figcaption>Shoppers go around the Divisoria market in Manila on Sunday, November 14, 2021. The National Capital Region may go on COVID-19 Alert Level 1 by December 1 according to the Inter-Agency task Force on COVID-19. But the agency also warned of another surge if people fail to strictly observe minimum health protocols. <em>Mark Demayo, ABS-CBN News</em></figcaption></figure></div><p>MANILA (<strong>UPDATE</strong>) - Inflation for the month of November decelerated further to a 4-month low of 4.2 percent as some food prices stabilized, the state statistics bureau said Tuesday. </p><p>The consumer price index rose 4.2 percent or at a slower pace compared to the 4.6 percent the previous month, the Philippine Statistics Authority said in a virtual briefing. </p><div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="Inflation slowed to a 4-month low of 4.2 percent in November. Data: Philippine Statistics Authority, Processed by: ABS-CBN Data Analytics" src="http://sa.kapamilya.com/absnews/abscbnnews/media/2021/news/12/07/chart1.png"/><figcaption>Inflation slowed to a 4-month low of 4.2 percent in November.<em> Data: Philippine Statistics Authority, Processed by: ABS-CBN Data Analytics</em></figcaption></figure></div><p>The figure still breached the upper band of the government target of 2 to 4 percent. The BSP expected inflation for the month to settle at 3.7 percent.</p><p>Although inflation for the month is slightly higher than anticipated, it is still projected to fall within target in 2022 and 2023 as supply-side pressures moderate, Bangko Sentral ng Pilipinas Governor Benjamin Diokno said in a statement.</p><p>Upside risks are linked to weather disturbances and prolonged recovery of domestic food supply as well as strong global demand and persistent supply chain bottlenecks, the central bank said. </p><p>Meanwhile, potential delays in the lifting of local lockdown measures as well as new COVID-19 variants could &quot;dampen&quot; prospects for global and domestic demand and &quot;temper&quot; inflationary pressures, it said.</p><p>&quot;The risks to the inflation outlook are on the upside for 2022 but remain broadly balanced for 2023,&quot; the BSP said. </p><p>Despite inflation hovering above the target for several months, Diokno has said that the trend remains &quot;transitory&quot; and does not warrant a tightening of monetary policy.</p><p>The BSP has kept its benchmark interest rate at a record-low 2 percent for a year now with only 1 monetary policy-setting meeting left for the year. </p><p>Economic managers have said inflation could settle back within the mid-range of the government target by next year.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/11/05/21/inflation-slows-down-to-46-percent-in-october">Inflation slows down to 4.6 percent in October</a></li></ul><div><strong>RELATED VIDEO:</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=1662991" width="100%"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div>

Inflation for the month of November decelerated further to a 4-month low of 4.2 percent as some food prices stabilized, the state statistics bureau said Tuesday. 