By Brian Campued
The headline inflation in the country is projected to settle within the range of 2.0% to 2.8% in October, the Bangko Sentral ng Pilipinas (BSP) announced Thursday.
This month-ahead inflation forecast by the BSP is the same as its projection for September.
To recall, the Philippine Statistics Authority reported that headline inflation decelerated to a four-year low in September, easing to 1.9%—the lowest record since May 2020.
For October, the central bank said higher prices of food commodities such as vegetables, fruits, and fish, the increase in prices of domestic petroleum products, and the depreciation of the Philippine peso will primarily contribute to the upward price pressures for the month.
However, BSP noted, the lower prices of rice and meat along with reduced electricity rates are expected to offset these upward pressures.
“Going forward, the Monetary Board will continue to take a measured approach in ensuring price stability conducive to balanced and sustainable growth of the economy and employment,” it stated.
—iro