MANILA (Reuters) - The Philippine central bank said on Wednesday that annual inflation in November was expected be within a range of 2.9-3.6 percent, with the impact of higher fuel and electricity costs possibly offset by a slightly stronger peso.
Headline inflation in October quickened to a three-year high of 3.5 percent, pushed up by higher fuel prices and a weaker peso.
That brought the year’s average so far to 3.2 percent, above the midpoint of the government’s 2-4 percent target range. November inflation data is due on Dec. 5.
Reporting by Enrico dela Cruz; Editing by Kim Coghill