Philippine consumer price inflation accelerated unexpectedly in November to the highest level in twenty-one months, figures from the Philippine Statistics Authority showed Monday.
The consumer price index rose 2.5 percent year-over-year in November, faster than October's 2.3 percent stable rate of increase. Meanwhile, economists had expected the inflation to ease to 2.2 percent.
This was the strongest inflation since February 2015, when prices had risen the same 2.5 percent.
Excluding food and energy items, core inflation picked up slightly to 2.4 percent from 2.3 percent.
Prices of food and non-alcoholic beverages grew 3.3 percent annually in November and those of clothing and footwear climbed by 2.6 percent.
Month-on-month, consumer prices went up 0.6 percent from October, when it increased by 0.2 percent.
The statistical office also revealed that producer prices declined at a faster pace of 3.7 percent yearly in October, following a 3.4 percent fall in September.
On a monthly basis, consumer prices dropped 0.4 percent in October, reversing a 1.0 percent decrease in the prior month.
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