Philippines November inflation speeds to 21-month high

[MANILA] Philippine consumer prices rose at their fastest pace in 21 months in November, led by increases in the prices of alcoholic beverages and tobacco, housing, water, electricity, gas and transport, the statistics agency said.

The consumer price index rose 2.5 per cent in November from a year earlier, inside the central bank's comfort range.

Core inflation, which strips out volatile food and fuel items slightly quickened to 2.4 per cent in November from a year earlier, while month-on-month also accelerated to 0.6 percent.

The latest inflation print brought the year-to-date average to 1.7 per cent, which central bank Governor Amando Tetangco said was consistent with expectations that inflation will fall within its 2-4 per cent target in 2017 and 2018 target.

REUTERS