MANILA - Philippine annual inflation may average around 3.5% this year, a senior official said on Thursday.

Dennis Arroyo, head of policy planning at the economic planning agency, made the estimate after taking into account that inflation averaged 3.2% in January-October.

The central bank said on Wednesday annual inflation in November will likely come in between 2.4% and 3.3%, accelerating from 1.6% in October, due to supply-side pressures after recent storms and higher fuel prices.