The Philippine central bank said on Wednesday that annual inflation in November was expected to be within a range of 2.9-3.6 per cent.
The central bank hopes the inflation range with the impact of higher fuel and electricity costs possibly offset by a slightly stronger peso, reports Reuters.
Headline inflation in October quickened to a three-year high of 3.5 per cent, pushed up by higher fuel prices and a weaker peso.
That brought the year’s average so far to 3.2 per cent, above the midpoint of the government’s 2-4 per cent target range. November inflation data is due on Dec. 5.
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