THE Bangko Sentral ng Pilipinas (BSP) projects October 2021 inflation to settle within the 4.5- 5.3 percent range.
The central bank said inflation will be driven largely by the upward adjustments in domestic oil prices. Higher Meralco electricity rates, increased fish and fruits prices and the peso depreciation will provide additional upside pressures. These could be partially offset by the continued decline in rice and meat prices, reflecting continued arrival of pork imports.
Moving forward, the BSP will continue to closely monitor emerging price developments to help ensure that its primary mandate of price stability conducive to balanced and sustainable economic growth is achieved. (PR)