The Bangko Sentral ng Pilipinas expects the country’s inflation rate in 2019 and 2020 to hit 3.18 percent and 3.04 percent, respectively. As of the first week of December, the average price of regular-milled and well-milled rice declined to P42.17 and P45.73 a kilo, respectively. Prices are higher than the suggested retail prices of P39 and P44 a kilo for local regular-milled and well-milled rice.