INFLATION has likely peaked and will continue easing for the rest of the year, a Cabinet official said.
'I think we expect, in the coming months, that will come down because the El Niño is over — hoping that the La Niña will not bring severe flooding and all that — and I think that prices will start to moderate,' Socioeconomic Planning Secretary Arsenio Balisacan told reporters on Friday.'o, I think it will enable us to achieve the target,' he added.'I cannot say the worst is over, but I think that extreme situations are ... not likely anymore.
'The rate is likely to remain near the upper limit of the BSP target in July, he added, before a significant decline starting in August.'With El Niño now over, rice production is expected to recover in the second half of the year, which could result in a drop in prices as supply improves,' Neri said.Rice inflation, which contributed to the uptick in inflation in prior months, declined to 22.5 percent last month from 23.0 percent in May.
Barring Shocks Inflation Likely To Keep Going Down This Year
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