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Nov 30, 2017 @ 13:44

Fuel, power rates drive November inflation — BSP

 

Prices of basic goods inched higher in November amid rising petroleum and utility rates.

Inflation likely logged between 2.9-3.6 percent in November, according to the Bangko Sentral ng Pilipinas (BSP) Department of Economic Research.

In a statement, the BSP unit said higher retail pump prices may have stoked prices from a year ago, coupled with successive power rate hikes introduced by the Manila Electric Company during the month.

On the other hand, the recovery of the peso to P50:$1 could have helped ease pressures, allowing the monthly inflation rate to still fall within the 2-4% range.

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