Inflation may still hit 7% in October

Inflation may still hit 7% in October

Inflation may still hit 7% in October

Inflation may still hit 7% in October

A possibility of inflation reaching 7 percent is still on the table, as food and oil prices remain elevated during the month.

In a statement, the Bangko Sentral ng Pilipinas (BSP) Department of Economic Research (DER) said it projects

October 2018 inflation to settle anywhere within the 6.2 to 7 percent range.

Inflation may still hit 7% in October

Inflation in September hit 6.7 percent, rising from the 6.4 percent in the previous month and the 3 percent in the previous year.

Despite the elevated forecast, the BSP still believes inflation is on its way downward in the fourth quarter of the year.

Inflation may still hit 7% in October

“The BSP Department of Economic Research projects October 2018 inflation to settle within the 6.2 to 7.0 percent range.

Inflation may still hit 7% in October

This corresponds to a month-on-month inflation forecast range of -0.2 to 0.6 percent, which is in line with the BSP’s assessment

that inflation is likely to have peaked in the third quarter of 2018 in the absence of further price shocks,” the BSP said.

Inflation may still hit 7% in October

BSP expansion

“Upward value weights from residential oil costs and water rates in Manila Water-and Maynilad-overhauled regions

Inflation may still hit 7% in October

counterbalanced by the lower costs of rice and other nourishment things and in addition the descending change in Meralco

control rates,” it included. In their September meeting, the BSP said an expansion is currently anticipated that would average

Inflation may still hit 7% in October

at 5.2 percent, from the 4.9-percent projection in the past gathering on August 9. For 2019, expansion is currently likewise

anticipated that would rupture focus to hit 4.3 percent from the prior conjecture of 3.7 percent.

Inflation may still hit 7% in October

The BSP pledged to keep observing advancements in expansion for arrangement making contemplations.

Inflation may still hit 7% in October

“Pushing ahead, the BSP will keep on nearly screen advancing patterns in costs and swelling desires, and will

embrace essential measures toward its pledge to value solidness,” the BSP said.

The BSP will hold its next money related strategy meeting on November 15.

Inflation may still hit 7% in October

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