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Inflation rate continues to slow down, registering 4.3% in November 2021

The inflation rate continues to see a downward trend after the Philippines recorded a 4.2% for November 2021, from the 4.8% last October 2021, the Philippine Statistics Authority (PSA) reported on Monday, December 7, 2021.

The continued slowing down of the country’s overall inflation rate for the month is due to the slow annual rates in food and non-alcoholic beverages at 4.2% and alcoholic beverages and tobacco at 7.7 %, as per the report.

Meanwhile, housing, water, electricity, gas, and other fuels group, furnishing, household equipment, and routine maintenance of the house group, transport group, and education group registered higher annual increment after hitting 4.1%, 1.9%, 5.1%, and 1.0% respectively.

Other commodity groups retained their annual growth rates, the report stated.

Inflation for food for the bottom 30% income households at the national level continues to decelerate after registering 4.2% in November 2021, from 5.4% in October 2021.

On the other hand, the PSA also reported lower inflation of 1.5% in the National Capital Region (NCR) from the 3.0% October 2021.

According to PSA, the slow movement of the food and non-alcoholic beverages prices is slow, comprising 98.4% share in the lower inflation for the month of November.

Meanwhile, areas outside NCR also show an inflation slowdown of 4.3% this month, from the 4.9% last October 2021 due to slow annual rate growth for food and non-alcoholic beverages, alcoholic beverages and tobacco, and clothing and footwear.

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