The Bangko Sentral ng Pilipinas (BSP) is expecting the inflation rate to remain elevated this month amid higher prices of electricity, liquefied petroleum gas prices, and agricultural commodities.
In its month-ahead inflation forecast, the BSP said the November inflation print is expected to settle within 7.4% to 8.2% range.
“Upward price pressures for the month are expected to emanate from higher electricity rates, uptick in the prices of agricultural commodities due to severe tropical storm Paeng, and higher LPG prices,” the BSP said. The Philippine Statistics Authority is scheduled to release official inflation figures for November on December 6, 2022.
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