The monthly readout on overall inflation in the Philippines is largely expected to ease further below 5 percent in July from 5.4 percent in June, in line with the Bangko Sentral ng Pilipinas’ own projections. | RonWDomingoINQ /PDI
This is “mainly due to higher vegetables and fish prices, partially offset by lower electricity prices,” the American group said.
ING Bank also expects core inflation, which excludes items like food and fuel whose price changes are considered volatile, to ease to 7 percent in July from 7.4 percent in June. “The favorable base effects that helped offset the increase in food prices may continue to play a role in keeping inflation in check in the short term,” Roces said.
Meanwhile, Jonathan Ravelas, managing director of eManagement for Business and Marketing Services, is forecasting higher at 5.2 percent.At a reception hosted by the BSP and held in honor of newly installed Governor Eli Remolona Jr., the new BSP chief said they were beginning to see “tantalizing fruits of our efforts” in taming inflation.
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