Manila, Oct. 1 -- The Bangko Sentral ng Pilipinas (BSP) expects September inflation to settle within the range of 1.5 percent to 2.3 percent.

"Upward price pressures for the month are likely to arise from higher prices of rice and fish," the BSP said in a statement Wednesday.

It said elevated domestic fuel costs also contribute to upside price pressures for the month.

The BSP, however, said these pressures could be partially offset by the decline in vegetables and meat prices along with lower electricity rates.

"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 ...