Analysts' poll for November Consumer price growth kept in check

Economists expect inflation in November to either slow or hold steady from the October print, reinforcing the trend of subdued price growth after months of soft demand and improved food supply.

- By KEISHA TA-ASAN

Economists polled by The STAR show estimates ranging from 1.5 to 1.7 percent. This comes after inflation held steady at 1.7 percent in October, also bringing the 10-month average to 1.7 percent.

If realized, November inflation would mark the ninth straight month that consumer price growth stayed below the Bangko Sentral ng Pilipinas (BSP)'s two to four percent target for the year.

Reyes Tacandong & Co. senior adviser Jonathan Ravelas gave the lowest projection at 1.5 percent, saying softer food prices offset energy-related pressures during the month.

"I expect November inflation to ease to around 1.5 percent, below the market consensus of 1.7 percent, as softer food prices and tempered demand offset energy cost pressures," he said.

Ravelas added that continued disinflation "gives the BSP room to maintain an accommodative stance and possibly cut rates further to support growth."