By Brian Campued
The headline inflation in the Philippines is expected to settle within the range of 2.0% to 2.8% in September, the Bangko Sentral ng Pilipinas (BSP) announced Tuesday.
In its month-ahead inflation forecast for September, the BSP said the negative base effects along with lower prices in various food and oil products are expected to offset the higher prices of fish and fruits as well as higher electricity rates.
“Negative base effects along with lower prices of food commodities including rice, meat, and vegetables as well as lower domestic oil prices, and the appreciation of the peso are the primary sources of downward price pressures for the month,” it stated.
“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,” the Central Bank added.
To recall, the Philippine Statistics Authority (PSA) reported that headline inflation eased to 3.3% in August from 4.4% in July. —iro