THE IMPACT of the recent weather disturbances on agriculture is expected to push the domestic inflation rate for November this year to between 1.1 percent to 1.9 percent.
The previous month’s level is steady at 1.7 percent.
The Bangko Sentral ng Pilipinas (BSP) said prices of fish, rice, and fruits rose this month after the devastation from several typhoons.
“Higher electricity and oil prices, as well as the depreciation of the peso, could also contribute to price pressures,” it said on November 28.
The BSP, however, sees these factors to be countered by “lower prices of meat and vegetables.”
“Going forward, the BSP will continue to monitor evolving domestic and international developments affecting the outlook for inflation and growth in line with its data-dependent approach to monetary policy formulation,” it added. (PNA)
