THE Bangko Sentral ng Pilipinas (BSP) projects inflation to slightly increase in October.
In its advisory, the central bank sees October inflation to settle within the range of two percent to 2.8 percent. This is higher than the 1.9 percent inflation in September.
The central bank said higher prices of food commodities such as vegetables, fruits and fish, along with the increase in prices of domestic petroleum products and the peso depreciation are the primary sources of upward price pressures for the month.
But these are expected to be offset in part by lower prices of rice and meat along with reduced electricity rates.
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. / KOC