DOF vows to rein in prices after inflation eases to 1.5%

The Department of Finance (DOF) assured the public that it is accelerating efforts to control food and basic service prices after inflation eased to 1.5 percent in November, a four-month low.

- By DERCO ROSAL

Data from the Philippine Statistics Authority (PSA) showed the inflation rate slowed to 1.5 percent last month, from 1.7 percent in October, primarily due to lower food prices.

The latest figure remained within the Bangko Sentral ng Pilipinas’ (BSP) forecast range of 1.1 percent to 1.9 percent.

Headline inflation averaged 1.6 percent at end-November, falling below the government's target band of two percent to four percent. The government views inflation within this range as manageable and conducive to economic growth.