November Inflation Rises to 2.5 Percent 

The Philippine economy’s inflation rate saw another increase in November 2024 as it stood at 2.5 percent from 2.3 percent in October 2024. The slight increase reflects the impacts of higher food prices as major weather disturbances challenged domestic food supply and logistics. Despite recent upticks, the Development Budget Coordination Committee estimates full-year inflation to settle between 3.1 to 3.3 percent, well within the government target of 2 to 4 percent. Year-to-date (January to November 2024), the inflation rate stands at 3.2 percent. 

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