Printer Friendly

Philippine inflation rate at 11.2 pc in Nov.

MANILA, Dec. 4 Kyodo

The Philippines' year-on-year inflation rate for November rose more than expected, to 11.20% from 10.2 % in October, bringing inflation for the first 11 months of the year to 9.70%, the government said Friday. The inflation rate for the year through November is still within the government's 10% target for the year, but the November rate is the highest since the financial crisis began in July last year. Food prices shot up 12.30% in November over the corresponding month last year, exceeding October's 9.90% rise. The increases were due to the effects of two typhoons that destroyed agricultural crops, the government said. Higher prices were recorded for rice -- a staple food in the Philippines -- and fruits, vegetables, meat and fish, thereby pulling up the overall inflation rate. Analysts polled by a local daily, BusinessWorld, earlier forecast November inflation to range between 10 and 11%, or at an average of 10.3%.
COPYRIGHT 1998 Kyodo News International, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1998 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Asian Economic News
Geographic Code:9PHIL
Date:Dec 7, 1998
Words:159
Previous Article:N. Korea trainees to join IMF market-economy program.
Next Article:Japan blasts Thai daily for false criticism.


Related Articles
Philippine inflation edges up to 10.2 pc in Oct.
Philippine inflation rate eases to 10.4 pc. in Dec.
Philippine inflation rate slows to 8.7 pc in March.
LATIN TRADE INDEX [.
Consumer confidence and buying plans.

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters |