Archive > Monthly Inflation Forecast

December 2, 2003 – Rising prices of domestic fuel products, dressed chicken, and cement could have pushed inflation up to 3.1% to 3.3% in November from 3.1% in October. Oil companies raised fuel pump prices by an average of P0.70 per liter due to the depreciating peso-dollar exchange rate and rising crude prices abroad. Higher corn prices also reflected a shortfall in output. Likewise, prices of dressed chicken rose with the reported fall in production of broiler chicken. Higher cement prices could have exerted pressure on the housing and rentals index.