imageMANILA: Philippine annual inflation likely quickened for a fourth straight month in December due to higher electricity, fuel and food prices, the Bangko Sentral ng Pilipinas (BSP) said on Thursday.

The central bank expects annual inflation of between 3.8-4.7 percent in December, with the low end of the range the highest since January 2012 when the rate hit 4.0 percent.

"Going forward, the BSP will remain vigilant in monitoring price pressures to ensure price stability conducive to a balanced and sustainable economic growth," central bank Governor Amando Tetangco said in a mobile text message to reporters.

The official inflation data will be released on Jan. 7

On Dec. 12, the central bank left the overnight borrowing rate unchanged. Some analysts expect the first rate rise to occur as early as in the second quarter of next year to head off inflation.


Comments are closed.