LOWER prices of food such as rice may have tamed inflation in October, according to the Bangko Sentral ng Pilipinas (BSP). The BSP said it now projects that October 2023 inflation will settle within the range of 5.1 to 5.9 percent. This is slower than the 6.1 percent inflation recorded in September 2023. “Lower prices
High rice prices pushed up inflation to a four-month high in September, according to the latest data released by the Philippine Statistics Authority (PSA). On Thursday, PSA said inflation averaged 6.1 percent in September 2023. Inflation was at 6.9 percent in September 2022 and 5.3 percent in August 2023. The inflation rate in September was
LAWMAKERS see inflation, which peaked in September, normalizing soon, but said the government still needs to mitigate risks. House Committee on Ways and Means Chairman Joey Sarte Salceda traced the reported year-on-year inflation rate of 6.1 percent in September to oil and rice price shocks during the month, but said this is expected to dissipate
SUCCESSIVE typhoons have caused commodity prices to surge in August with vegetables like tomatoes and the country’s staple, rice, leading the charge to increase inflation to 5.3 percent, according to the Philippine Statistics Authority (PSA). The poorest Filipinos experienced an even higher rate of inflation at 5.6 percent as food…
MOODY’S Analytics expects the country’s inflation rate to average 4.8 percent in August, faster than the actual rate of increase in commodity prices in July. This is the low end of the Bangko Sentral ng Pilipinas (BSP) forecast of 4.8 to 5.6 percent in August. The higher inflation expectation of…