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PHILIPPINES: CPI up +2.5% y/y in line with Estimates. 

PHILIPPINES
  • Philippines November CPI printed at +2.5% up from +2.3% in October.
  • CPI core rose +2.5%.
  • Transport -1.2% y/y vs -2.1% in Oct, Food and non-alcoholic beverages +3.4% y/y vs +2.9% previous month and Furnishing, household equipment +2.7% y/y vs +2.4% in Oct.
  • Inflation in national capital region +2.2% y/y vs +1.4% in Oct.
  • The Central Bank (“BSP”) cut rates in August and October this year and has one more meeting for 2024.
  • A recent BBG poll of 25 economists saw  majority expecting a further cut at the December 19 meeting.  
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  • Philippines November CPI printed at +2.5% up from +2.3% in October.
  • CPI core rose +2.5%.
  • Transport -1.2% y/y vs -2.1% in Oct, Food and non-alcoholic beverages +3.4% y/y vs +2.9% previous month and Furnishing, household equipment +2.7% y/y vs +2.4% in Oct.
  • Inflation in national capital region +2.2% y/y vs +1.4% in Oct.
  • The Central Bank (“BSP”) cut rates in August and October this year and has one more meeting for 2024.
  • A recent BBG poll of 25 economists saw  majority expecting a further cut at the December 19 meeting.