The Philippines’s headline inflation slowed down to 1.7% in the third quarter of 2019.
Bangko Sentral ng Pilipinas (BSP) said that the figure is well within 2% to 4% inflation target for 2019 to 2021. This was attributed to cheap petroleum products and electricity. The Bureau of the Treasury reported that the government’s spending in September 2019 reached PHP400 billion equivalent to 39.01% year-on-year growth. The government estimates the fourth quarter’s improvement grade at 6.5% through faster spending by the government and the populace.
