Central Bank sees November inflation at 2.9-3.6 pct


Posted at Nov 29 2017 02:16 PM

MANILA - Inflation could settle with the 2.9 to 3.6 percent range in November due to higher fuel and electricity prices, the Bangko Sentral ng Pilipinas said Wednesday.

The November expectation would fall within the BSP's 2 to 4 percent target for the year.

Higher fuel and power costs this month likely offset the peso's strength, the BSP's Department of Economic Research said in a statement.

Consumer prices rose 3.5 percent in October, the fastest clip since 2014, bringing average inflation in the first 10 months of the year to 3.2 percent.