Inflation in the Philippines went up even higher at 8.1 percent in December 2022 from 8 percent in November, bringing the full-year average to 5.8 percent, according to the Philippine Statistics Authority. | RonWDomingoINQ /PDI
National Statistician Dennis Mapa said in a press briefing the December readout was mainly driven by faster rate of increases in prices of vegetables especially cabbage, rice, and fruits like bananas.Other big contributors to faster inflation were restaurants and accommodation services as well as housing, water, electricity, gas and other fuels.
Inflation in December was the highest since November 2008, and was more than twice as high as the 3.1 percent recorded in December 2021.
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