© Reuters. FILE PHOTO: People shop at a public market in Manila, Philippines, October 21, 2022. REUTERS/Lisa Marie David
MANILA (Reuters) – Philippine inflation was likely within the 7.8% to 8.6% range in December because of upward pressures from higher electricity rates and agricultural commodities prices, the central bank said on Thursday.
It will continue monitoring developments to prevent the further broadening of price pressures, it said, after inflation hit 8% in November. The Philippines’ statistics agency will release inflation data in the first week of January.