Archive > Monthly Inflation Forecast

January 27, 2004 – Since prices of fuel, water, power, chicken, pork, and cement reportedly went up in January 2004, MBC Research projects consumer prices to have risen by 2.9%-3.3% year-on-year from 3.1% in December 2003. MBC’s range forecast takes into account the impact of the shift in base year for the consumer price index to 2000 from 1994.

The plunging peso-dollar rate in January is expected to exert further pressure on inflation in February. For full year 2004, MBC expects average inflation to reach 3.3%-3.9%, below the government’s 4.0%-5.0% inflation target, from 3.1% in 2003.