"Upward price pressures in December could stem from increased prices of major food items owing to the supply disruptions from recent weather disturbances, as well as higher electricity rates and petroleum prices," the BSP said.
However, it said the lower prices of agricultural commodities like rice could mitigate price pressures.
Headline inflation picked up to 2.5 percent in November from 2.3 percent in October.
Inflation averaged 3.2 percent from January to November, settling within the BSP's target range.
"Going forward, the BSP will continue to monitor developments affecting the outlook for inflation and growth in line with its data-dependent approach to monetary policy decision-making," it said.
This story is from the December 28, 2024 edition of The Philippine Star.
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This story is from the December 28, 2024 edition of The Philippine Star.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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