Bangko Sentral sees benign September inflation

MANILA, Philippines — Inflation likely eased further in September on lower rice prices and power rates during the month, the Bangko Sentral ng Pilipinas said Monday.

In a statement, the BSP’s Department of Economic Research forecast September inflation to settle within 0.6%-1.4% range.

If the upper end of the central bank unit’s forecast range is realized, it would fall below August’s 1.7%.

“The continued decline in rice prices and the downward adjustment in electricity rates could be offset by the recent uptick in fuel prices as well as higher prices of selected food items due to weather disturbances during the month,” the BSP said.

The Philippine Statistics Authority will release the official August price growth data on October 4.

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