Policymakers showed concerns over the peso depreciation and its risks to the inflation rate. Yet, core inflation has not been affected by recent currency weakness, policymakers said.
Consumer prices eased to 3.08 percent in the mid-month to January from 4.08 percent in December. Core infation edged down to 2.43 percent from 3.24 percent.
The central bank expects the inflation to come back to 3 percent in mid-2015 and to fall below target by the end of the year.