MANILA – Philippine inflation likely settled within the range of 3.6%-4.4% range in December, the central bank said on Friday.
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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.
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“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.
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Inflation was at 4.1% in November.
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“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
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