Philippine central bank sees November inflation at 1.1% to 1.9%

MANILA — The Philippine central bank said on Friday it expected annual inflation in November to be between 1.1% to 1.9%.

“Upward price pressures for the month reflect in part the impact of inclement weather as prices of rice, fish, and fruits increased,” the Bangko Sentral ng Pilipinas (BSP) said in a statement.

The BSP said higher electricity and oil prices, as well as the peso depreciation could also contribute to price pressures.

However, these factors could be partially offset by lower prices of meat and vegetables, it added.

“Going forward, the BSP will continue to monitor evolving domestic and international developments affecting the outlook for inflation and growth,” the BSP said.

November inflation data is scheduled to be released on Dec. 5. — with Reuters