Inflation in the Philippines is expected to settle within the range of 3.6% to 4.4% this December, the Bangko Sentral ng Pilipinas (BSP) announced on Friday.
This projection is slower than the previous month’s estimate which was between 4% to 4.8%.
In its month-ahead inflation forecast, the Central Bank said it sees higher prices of rice and meat are seen as the primary sources of upward price pressure this month.
On the other hand, lower prices of agricultural items — vegetables, fruits, and fish — along with lower electricity rates and petroleum prices are estimated to contribute to downward price pressures.
“Going forward, the BSP will continue to monitor developments affecting the outlook for inflation and growth in line with its data-dependent approach to monetary policy decision-making,” the BSP said in a statement. ‒Brian Jules Campued
