The Bangko Sentral ng Pilipinas (BSP) forecasted inflation rate for the month of January to be in the range of 3.4 percent to 4.3 percent, and still within its target band for 2014.

“Price pressures, including those weather-related, may have been moderated by decline in domestic fuel prices,” BSP Governor Amando Tetangco Jr. said in a text message on Tuesday.

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