MANILA – Philippine inflation likely settled within the range of 3.6%-4.4% range in December, the central bank said on Friday.
Higher prices of rice and meat were the main factors pushing prices upward this month, the Bangko Sentral ng Pilipinas (BSP) said in a statement.
“Meanwhile, lower prices for agricultural items such as vegetables, fruits, and fish along with lower electricity rates and petroleum prices are expected to contribute to downward price pressures,” the BSP said.
Inflation was at 4.1% in November.
“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,” it said. — Reuters