Manila, Oct. 30 -- The Bangko Sentral ng Pilipinas (BSP) expects October inflation to settle within the 1.4 percent to 2.2 percent range.

"Upward price pressures for the month may stem from higher prices of rice, fish, vegetables, and electricity, as well as the depreciation of the peso," the BSP said in a statement Thursday.

It noted, however, that these pressures could be partially offset by lower prices of oil, meat, and fruits.

"Going forward, the BSP will continue to monitor evolving domestic and international developments affecting the outlook for inflation and growth in line with its data-dependent approach to monetary policy formulation," the BSP said.

The Philippine Statistics Authority will release the October inflation data...