World Economic outlook - Philippine inflation rate forecast 2012-2013 : BSP Deputy Governor Diwa Guinigundo said last month the January inflation data would be a key factor to determining if there was room to support growth further after growth in 2011 of 3.7 percent came in below a government target. Read philippine inflation rate january 2012
Manila has yet to announce its 2012 and 2013 inflation targets under the new base year, but central bank officials have said they would not be significantly different from the 3 to 5 percent target previously set for both years using 2000 prices.
The central bank expects average inflation of 3.1 percent in 2012 and 3.4 percent in 2013, both below economists' inflation forecasts of 3.7 and 4.2 percent for this year and next in a Reuters poll in January.
Authorities expect the economy to pick up pace this year on the back of higher and faster government spending. Manila is targeting growth of 5 to 6 percent in 2012.
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