Prices are finally slowing down.
The Department of Finance (DOF) said inflation may have eased to 6.3 percent in November, which realizes their statements that price increases will go slower after October.
This forecast is lower than the 6.7 percent in October, benefiting from lower oil prices andd better food costs.
“This easing in inflationary momentum comes from both the decline in prices of food and non-food commodities. Rice and vegetables record big declines while meat and fish continue their upsurge,” the DOF said in a statement.
Lower fuel and LPG prices should also offset electricity rates.