MANILA, Jan 5 (NNN-PNA) – Year-on-year inflation in the Philippines accelerated to 3.5 percent in Dec, 2020, up from 3.3 percent in Nov, 2020, driven by increases in food and non-alcoholic beverages, the Philippine Statistics Authority (PSA) said today.
“This is the highest inflation recorded since Mar, 2019,” PSA head, Dennis Mapa said, in virtual news.
“The uptrend in the country’s inflation was primarily brought about by the increase in the inflation of heavily-weighted food and non-alcoholic beverages, at 4.8 percent during the month, from 4.3 percent in Nov, 2020,” Mapa added.
Moreover, he said, annual increments were higher in the indices of health, transport, and restaurant and miscellaneous goods and services.
The Philippines’ annual average inflation for 2020 was 2.6 percent, slightly higher than the 2.5 percent annual average inflation in 2019, the state statistics bureau said.– NNN-PNA
