The Philippines' inflation accelerated to the highest level since November 2008, mainly due to an increase in food prices due to poor climate, but remained within the forecast range of the central bank that is widely expected to deliver another rate hike in its policy session next week.
The consumer price inflation rose to 8.0 percent in November from 7.7 percent in October, data from the Philippine Statistics Authority showed on Tuesday. Economists had expected a 7.8 percent rise.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.