Inflation or the rate of increase in the prices of goods and services clocked in at 8.1% in December 2022, faster than the 8.0% rate in November 2022.
Inflation or the rate of increase in the prices of goods and services clocked in at 8.1% in December 2022, faster than the 8.0% rate in November 2022 and 3.1% in the same month in 2022.
This is the fastest inflation rate since November 2008’s 9.1%, according to National Statistician and PSA chief Claire Dennis Mapa.Bangko Sentral ng Pilipinas’ projection range of 7.8% to 8.6%The December print brought the year-to-date average to 5.8%, surpassing the government’s ceiling of 2% to 4% but hitting its assumption for the entire year which took into account higher food and transport costs.
“Ang pangunahing dahilan ng mas mataas na antas ng inflation nitong Disyembre 2022 kaysa noong Nobyembre 2022 ay ang mas mabilis na pagtaas ng presyo ng Food and Non-Alcoholic Beverages,” Mapa said. The PSA chief said the Food and Non-Alcoholic Beverages index had a 10.2% inflation print and a 38.9% share to the overall inflation in the whole country.
“Ang nag-ambag ng malaki sa pagtaas ng inflation ng Food and Non-Alcoholic Beverages ay ang mas mabilis na pagtaas ng presyo ng mga vegetables, tubers, cooking bananas at iba pa… partikular ang repolyo, bigas, at fruits and nuts, tulad ng saging,” Mapa said.
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