December inflation likely within 3.5 to 4.3 percent range: BSP

ABS-CBN News

Posted at Dec 29 2021 09:54 AM

People buy traditional ‘Noche Buena’ (Christmas dinner) items at the Blumentritt Market in Manila on December 20, 2021. Jonathan Cellona, ABS-CBN News/File
People buy traditional ‘Noche Buena’ (Christmas dinner) items at the Blumentritt Market in Manila on December 20, 2021. Jonathan Cellona, ABS-CBN News/File

MANILA - Inflation in December could settle within the 3.5 to 4.3 percent range, the Bangko Sentral ng Pilipinas said Wednesday. 

Higher electricity rates and an uptick in food prices due to weather events are the major sources of inflationary pressures for the month, BSP Governor Benjamin Diokno said in a statement. 

These could be offset partly by price rollbacks in domestic petroleum products and the peso appreciation, the BSP said. 

"Looking ahead, the BSP will continue to monitor emerging price developments to help achieve its primary mandate of price stability that is conducive to balanced and sustainable growth of the economy," the central bank said. 

November inflation eased to its 4-month low of 4.2 percent, but still hovering above the government target of 2 to 4 percent. 

The BSP earlier said it would maintain its target inflation rate of 2 to 4 percent until 2024. 

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