Prices of basic commodities rose at a milder pace in November with food costs primarily driving the slowdown, newest figures from the Philippine Statistics Authority show.
Apart from food and non-alcoholic beverages, Mapa listed housing, water, electricity, gas and other fuels along with transport as major contributors to inflation for the month. “The risks to the inflation outlook are on the upside for 2022 but remain broadly balanced for 2023,” said Diokno on Tuesday, listing as upside risks the potential impact of weather disturbances on key food item costs along with the possible prolonged recovery of local food supply.
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