Inflation widely seen going down until February

MANILA, Philippines — Inflation likely eased in December and is seen to further slow until February as the country continues to rise from the recession caused by the COVID-19 pandemic, bank economists said.

Michael Ricafort, chief economist at Rizal Commercial Banking Corp., said inflation slowed down to 2.6 percent in December after hitting a 21-month high of 3.3 percent in November.

Ruben Carlo Asuncion, chief economist at Union Bank of the Philippines, said inflation eased to 3.1 percent last month as he underscored the transitory nature of the November print of 3.3 percent.