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Philippine inflation seen slowing slightly in Nov on lower utility costs: poll

Monday, December 5, 2016 - 14:02

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Philippine inflation is forecast to have eased slightly in November due to declines in transport and utility costs, backing expectations interest rates would remain steady when the central bank meets for the last time this year in just over two weeks.

[MANILA] Philippine inflation is forecast to have eased slightly in November due to declines in transport and utility costs, backing expectations interest rates would remain steady when the central bank meets for the last time this year in just over two weeks.

The median forecast in a Reuters poll was for the consumer price index to have risen 2.2 per cent in November from a year earlier, compared with the previous month's annual pace of 2.3 per cent.

The estimate was within the central bank's 1.6-2.4 per cent forecast for the month.

Inflation averaged 1.6 per cent in the 10-months to October, below the central bank's 2-4 per cent target for this year and next.

The Bangko Sentral ng Pilipinas, or BSP, has kept its policy rate unchanged since a 25-basis-point hike in Sept 2014 amid robust economic growth and subdued inflation. It next meets on Dec 22.

REUTERS

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