Inflation rises to 2.5% in November driven by food prices

Inflation rose to 2.5% in November, up from 2.3% in October, driven by increased food prices due to recent typhoons. This rate remains within the Bangko Sentral ng Pilipinas' target range of 2 to 4%. The new inflation rate aligns with the average forecast from eight economists. The central bank has previously cut the policy rate by 50 basis points this year, bringing it to 6%. BSP Governor Eli Remolona Jr. suggested a pause in rate cuts may occur at the upcoming Monetary Board meeting if inflation pressures continue.