Philippines Inflation Lower at 3.3% in November 2017

Manila | 5th December 2017

Year-on-Year headline inflation decelerated slightly to 3.3 percent in November from 3.5 percent in October in line with BSP staff forecasts. This brought the year-to-date average inflation to 3.2 percent which remains within the Government’s target range of 3.0 percent  ± 1.0 percentage point for 2017.

” INFLATION Lower AT 3.3% IN November 2017, TARGET AT 3.1% “

Governor Nestor A. Espenilla, Jr. noted that the latest inflation reading remains in line with the BSP’s assessment of a manageable inflation environment over the policy horizon, with average inflation expected to settle slightly above the midpoint of the 2-4 percent target range for 2017-2019. The overall inflation outlook, output developments, liquidity, and credit activity, will be comprehensively reviewed by the Monetary Board on 14 December 2017 as part of the regular monetary policy assessment process.

Source: Bangko Sentral ng Pilipinas

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