Average headline inflation this year is likely to climb to 2 percent as the impact of El Niño continues to put upside pressure on food prices, based on a median forecast made by multilateral lenders, banking giants and think tanks.

Inflation forecasts for 2016 provided by BMI Research, Asian Development Bank (ADB), World Bank, Metrobank Research, Standard Chartered Bank, and ING Bank Manila ranged from 1.8 percent to 2.5 percent.

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