Philippines: Higher inflation data – ANZ

ANZ analysts note that annual inflation in the Philippines picked up to 1.3% y/y in November due to an increase in ‘housing and utilities’ prices and the fading of supportive base effects.

Key Quotes

“Although the base effects will progressively become less supportive, we expect inflation to stay within the Bangko Sentral ng Pilipinas’ (BSP) target band through 2020, thereby playing second fiddle to growth concerns over the next few policy meetings.”