MANILA - A research department of the central bank on Wednesday said it expects the February inflation rate to range from 4 to 4.8 percent.
"Higher electricity rates and food prices, along with the full pass-through of higher excise taxes on petroleum products and sugar- sweetened beverages, could lead to upward price pressures for the month of February," said the Department of Economic Research of the Bangko Sentral ng Pilipinas (BSP).
Finance Undersecretary Karl Kendrick Chua said on Tuesday that the full impact of the Tax Reform for Acceleration and Inclusion (TRAIN) law would be felt in February.
Inflation in January accelerated to 4 percent, which was the top end of the government's 2 to 4 percent target range.
The Philippine Statistics Authority is set to release the official inflation data for February on March 6, Tuesday.