POWER, fuel and food price hikes likely drove inflation to the upper end of the 2.0- to 4.0-percent target or even higher in July, the Bangko Sentral ng Pilipinas (BSP) said on Wednesday.
POWER, fuel and food price hikes likely drove inflation to the upper end of the 2.0- to 4.0-percent target or even higher in July , the Bangko Sentral ng Pilipinas said on Wednesday.Consumer price growth, which has stayed within target since December last year, was estimated to have hit 4.0- to 4.8-percent from 3.7 percent in June.The Philippine Statistics Authority is scheduled to release inflation data for the month on August 6.
0 percent for the entire year.During its last policy meeting on June 27, the Monetary Board said that the balance of risks to inflation had moved to the downside for this year and the next.The risk-adjusted forecasts for 2024 and 2025 were subsequently trimmed to 3.1 percent for both years from 3.8 percent and from 3.7 percent, respectively.BSP Governor Eli Remolona Jr. has hinted of two rate cuts totaling 50 basis points this year beginning in the third quarter.
Likely Rose To 4-4.8% In July BSP
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