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Inflation cooled to 1.5 percent in November, its slowest pace in three months, as rice and corn prices stayed down and cost pressures across several key consumer items eased, the Philippine Statistics Authority reported Friday. 

Rice stocks in the country rose 3.8 percent year-on-year to 2.55 million metric tons as of November 1, driven largely by the National Food Authority’s aggressive inventory buildup, the Philippine Statistics Authority said.

Panasonic Manufacturing Philippines Corp. is pouring roughly P3 billion into a new factory at the Laguna Technopark in Santa Rosa, marking one of the company’s biggest local expansions in recent years as it strengthens its manufacturing footprint in the country.

The outstanding loans from universal and commercial banks continued to rise in October although growth eased a bit. Preliminary Bangko Sentral ng Pilipinas (BSP) data show bank lending grew 10.3 percent year-on-year, down from 10.5 percent in September. On a month-to-month basis, lending increased 0.6 percent after seasonal adjustments.

State-owned Philippine Guarantee Corp. (Philguarantee) has partnered with Discovery Capital Finance Corp. (DCFC) to widen credit access for small and medium enterprises (SMEs) across the country.