Inflation slows for 11th month running in November

Latest reading: Consumer prices were up 6.3% in annual terms in November, following an 8.0% rise in the previous month. November's reading was the weakest since March 2020 and marked the 11th consecutive moderation. A more favorable exchange rate—amid higher cocoa and gold prices—supported the sharp slowdown in inflation. Relative to the prior month's figures, there were milder price pressures for food and beverages (+6.6% on a year-on-year basis vs +9.5% in October), transport (-4.8% vs -4.0% in October), housing and utilities (+10.2% vs +13.9% in October) and recreation and entertainment (+12.8% vs +15.1% in October). In contrast, price pressures were higher for clothing and footwear in November (+9.9% vs +9.5% in October). Lastly, consumer prices increased 0.93% in November in month-on-month terms, following a 0.41% fall in the previous month.

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