BSP: Lower utility bills to defuse Dec. inflation

Lower utility bills will likely defuse the impact of petroleum products and selected vegetables on prices this month, taming inflation to 2.5 percent-3.4 percent, the Bangko Sentral ng Pilipinas (BSP) said. “Outlook for inflation over the policy horizon remains favorable," said BSP Gov. Amando Tetangco Jr. “Nevertheless we continue to monitor developments in the global front for potential sources of surprises which could impact domestic demand conditions and price expectations," he pointed out. The central bank outlook for inflation this year is between 3.5 percent and 5.5 percent. The average inflation rate in January-November registered at 3.8 percent from 3.2 percent in the same period last year, according to the National Statistics Office. — JE/VS, GMANews.TV