Philippines Anticipates Decrease in December Inflation, BSP Reveals Range Forecast

The Philippines is expecting a continued downtrend in inflation for December 2023, as predicted by the Bangko Sentral ng Pilipinas (BSP). The central bank’s forecast places December’s inflation rate in the range of 3.6% to 4.4%. This projection indicates a possible deceleration from November’s 4.1% inflation rate. The BSP has identified the primary factors influencing this trend, with higher prices of rice and meat exerting upward pressure, while lower prices for agricultural products like vegetables, fruits, fish, as well as reduced electricity and petroleum prices, contribute to downward pressure. The BSP remains committed to monitoring these developments and adapting its monetary policy accordingly. The official inflation figures for December are scheduled for release by the Philippine Statistics Authority on January 5, 2024​​.