Ormer Bangko Sentral Ng Pilipinas Deputy Governor Diwa Guinigundo Said Uncertainties On Developments Around The Globe Are Causing Upticks In Prices Of Commodities And Have Resulted Second Round Effects Country Quoti Think It Average Inflation Can Even Be More Than 5 Percent For 2022 4 2 2023 Could Reach Probably Maybe Four Anda Half News Today : Breaking News, Live Updates & Top Stories | Vimarsana

PRESSURES. Former Bangko Sentral ng Pilipinas (BSP) Deputy Governor Diwa Guinigundo (in photo) forecasts the average domestic inflation for this year to be around 5.5 percent and the 2023 level at 4.5 percent. He said uncertainties on developments around the globe are causing upticks in prices of commodities and have resulted in second-round effects in the country. (Photo from BSP) MANILA - A former central banker on Friday projected the domestic inflation rate for this and next year to reach 5.5 percent and 4.5 percent, respectively, citing volatilities in oil prices, among others. At a forum streamed through the Facebook page of the Foundation for Economic Freedom (FEF), former Bangko Sentral ng Pilipinas Deputy Governor Diwa Guinigundo said uncertainties on developments around the globe are causing upticks in prices of commodities and have resulted in second-round effects in the country. "I think it (average inflation) can even be more than the 5 percent average for 2022 and th ....

Bangko Sentral , Diwa Guinigundo , Foundation For Economic Freedom , Federal Reserve , Economic Freedom , Pilipinas Deputy Governor Diwa Guinigundo , Monetary Board , Pressures Former Bangko Sentral Ng Pilipinas Bsp Deputy Governor Diwa Guinigundo In Photo Forecasts The Average Domestic Inflation For This Year To Be Around 5 Percent And 2023 Level At 4 He Said Uncertainties On Developments Globe Are Causing Upticks Prices Of Commodities Have Resulted Second Round Effects Country From Manilaa Central Banker Friday Projected Rate Next Reach , Iting Volatilities In Oil Prices , Mong Others Ata Forum Streamed Through The Facebook Page Of Foundation For Economic Freedom Fef , Ormer Bangko Sentral Ng Pilipinas Deputy Governor Diwa Guinigundo Said Uncertainties On Developments Around The Globe Are Causing Upticks In Prices Of Commodities And Have Resulted Second Round Effects Country Quoti Think It Average Inflation Can Even Be More Than 5 Percent For 2022 4 2 2023 Could Reach Probably Maybe Four Anda Half , Uot He Said Referring To The Inflation Projections Of Central Bank Until Next Year As First Six Months This , He Average Rate Of Price Increases Stood At 4 Percent , Igher Than The Government 39s 2 4 Percent Target Band Until 2023 Monthly Inflation Rate Surpassed Range Last April When It Accelerated To 9 From Previous Month Posted Higher Levels In Next Two Months 5 And 6 1 , Espectively All These Upticks Were Traced To The Continued Rise Of Prices Oil And Other Commodities In International Market , Ue In Part To Concerns About The Ukraine Russia War And Possible Economic Recession Us Help Tame Domestic Inflation Rate , He Bsp 39s Policy Making Monetary Board Mb Has Increased The Central Bank Key Rates By 25 Basis Points Each In Two Consecutive Meetings Last May And June To Date , He Bsp 39s Overnight Reverse Repurchase Rrp Rate Is At 2 5 Percent And Projections Are For The Key Rates To Be Increased By As Much 75 Basis Points More This Year Given Expectations Further Acceleration Of Inflation Monetary Authorities Said Increases Not Expected Hurt Domestic Output Since Continued Recovery Economy Gave Leeway Hike Its Guinigundo That Has Resulted In Second Round Effects , Uch As The Increase In Minimum Fare Public Utility Vehicles Puvs And Petitions For Wage Hikes , He Monetary Policy Should Be Enforced More Aggressively Said That With The Positive Growth Prospects Of Economy , He Hikes In The Bsp 39s Key Rates Will Help Address Not Just Inflationary Pressures From Higher Commodity Prices But Also Deprecation Of Peso , Hich Has Been Negatively Affected By The Strengthening Of Us Dollar Partly Because Continued Increases In Federal Reserve 39s Key Rates Quot Other Words , E Don 39t Think That The Aggressive Monetary Policy Actions On Part Of Bsp Will Makea Dent Growth Prospects Philippine Economy , Uot He Said , Dding That Policy And Structural Reforms Since The Mid 1990s Have Provided Resilience To Local Currency Pna ,