BSP Gov. Diokno: Inflation rate will drop in second half of 2021

By NG Seruela

Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno is optimistic that the inflation rate in the country will drop in the second half of the year.

In today’s Laging Handa public briefing, Diokno said the inflation rate decreased from 4.7% in February to 4.5% in March. He pointed out that the decreased rate was caused by the slow increase of the price of some food items.

He said the inflation rate for the first two quarters of 2021 may still be high, but will decrease by the second half.

“So, ang initial forecast namin for this year [our initial forecast for this year], our inflation rate will average around 4.2%.”

He explained that the increase of the inflation rate is “transitory,”  caused by the base effect due to the deceleration of inflation in the same quarter last year.

Diokno added that the Development and Budget Coordination Committee (DBCC) might lower the growth target for this year from 6.5% to 7.5%, to 6% to 7% due to the strict quarantine restrictions implemented in the country

Popular

Taal Lake site assessment yields sack containing ‘bones’ — DOJ

By Brian Campued The Department of Justice (DOJ) confirmed that authorities retrieved a sack containing burned remains believed to be human bones during the initial...

LTO integrates online driver’s license renewal system in eGovPH app

By Dean Aubrey Caratiquet The Land Transportation Office (LTO) has integrated the online driver’s license renewal in the eGovPH app, which ensures a fast and...

5 of 21 Filipinos in Houthi-hit ship in Red Sea rescued — DFA

By Joyce Ann L. Rocamora and Marita Moaje | Philippine News Agency Five of the 21 Filipino seafarers manning the cargo vessel Eternity C, which...

PBBM directs gov’t officials: Focus on work, avoid politicking

By Dean Aubrey Caratiquet At the Malacañang press briefing this Wednesday, July 9, Presidential Communications Office (PCO) Undersecretary and Palace Press officer Claire Castro reiterated...