Philippine shares fall due to profit-taking, higher inflation

Philippine shares declined on Friday due to profit-taking and higher-than-expected November inflation.

The PSEi dropped 59.57 points or 0.83 percent, closing at 7,134.56.

November's annual headline inflation rate came in at 3.3%, surpassing the consensus forecast of 2.6% and marking the fastest pace since April 2019.

The higher-than-expected inflation was attributed to supply disruptions caused by recent typhoons.