Philippine central bank sees Dec annual inflation slowing to 2.4-3.2%

[MANILA] Philippine inflation will likely ease further in December, from November, with the annual headline figure forecast at between 2.4 and 3.2 per cent reflecting lower rice and fuel prices, the central bank chief said on Tuesday. "The lower rice prices, jeepney fares, power rates and continued rollback of oil prices suggest a relatively manageable inflation picture," Governor Amando Tetangco said in a mobile text message to reporters.

The headline consumer price index rose 3.7 per cent in November, its slowest rise since November 2013.

The central bank left its key interest rate steady for a second straight meeting on Dec. 11, with easing inflation giving it leeway to extend a pause in its tightening cycle as growth prospects stay bright.

REUTERS