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The country’s inflation rate is expected to continue its acceleration streak for the third straight month in December as recent storms were seen to have caused supply constraints which put pressure on commodity prices.In its month-ahead inflation forecast, the Bangko Sentral ng Pilipinas said this month’s inflation could clock in within the range of 2.3% to 3.1%.The upper-end of the forecast range is faster than the 2.5% inflation print seen in November.
The central bank said that 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. “Nonetheless, these are expected to be offset in part by lower prices of agricultural commodities like rice,” it said.
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