Dec inflation likely within 2.3-3.1% range

Inflation likely settled within the 2.3 to 3.1 percent range this month, which could bring the full-year average to 3.2 percent, the Bangko Sentral ng Pilipinas (BSP) said.

- By KEISHA TA-ASAN

"Upward price pressures in December could stem from increased prices of major food items owing to the supply disruptions from recent weather disturbances, as well as higher electricity rates and petroleum prices," the BSP said.

However, it said the lower prices of agricultural commodities like rice could mitigate price pressures.

Headline inflation picked up to 2.5 percent in November from 2.3 percent in October.

Inflation averaged 3.2 percent from January to November, settling within the BSP's target range.

"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.