Inflation likely slowed down in October—BSP

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The Bangko Sentral ng Pilipinas said inflation in October likely eased to as low as 5.1 percent from 6.1 percent in September on reduced prices of rice and petroleum products.

It said that “higher prices of electricity, LPG, fruits and fish, as well as the recent adjustment in jeepney fares are the primary sources of upward price pressures in October.” BSP Governor Eli Remolona said he was not expecting inflation to settle within the target range of 2 percent to 4 percent this year, hinting that monetary authorities might further increase the interest rate by another 25 bps if needed.

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MlaStandard /  🏆 20. in PH

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