Prices of basic goods and services accelerated beyond the central bank’s forecast range for November, due mainly to a spike in food prices caused by the recent spate of typhoons.
Despite this, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said the 3.3-percent inflation rate for last month was a temporary phenomenon.
In a mobile phone message to reporters on Friday, the central bank chief said that the average inflation rate is still expected to settle “within the government’s target range of 3 percent, plus or minus 1 percent for 2020-2022, as the impact of supply disruptions due to recent typhoons is expected to be largely transitory.”
The November 2020 inflation w…
Keep on reading: Surprise November inflation spike temporary, says BSP