According to Jinshi Data, five economists surveyed by the Wall Street Journal predicted that the Philippines' consumer price index (CPI) may rise 2.4% year-on-year in November, higher than 2.3% in October.
Citi economists pointed out that rising electricity costs and festive demand may lead to a small increase in rice prices, but rice prices are generally on a downward trend. Inflation continues to decline, and the central bank is expected to cut its policy rate by 25 basis points in December.
However, a weaker Philippine peso could prompt the central bank to take a more cautious approach to manage expectations of future rate cuts. CPI data is due on Thursday.
