The Bangko Sentral ng Pilipinas projects November inflation to settle within the range of 2.2 to 3.0 percent.

Last month, October inflation reached 2.3 percent.

Increased prices of vegetables, fish, and meat due to unfavorable weather conditions, higher electricity rates and petroleum prices, and the depreciation of the peso are the primary sources of upward price pressures this month.

These are expected to be offset in part by lower prices of rice. Bangko Sentral ng Pilipinas