The Bangko Sentral ng Pilipinas (BSP) will likely raise its average inflation forecast for this year after the faster-than-expected headline print in January. Full story:
Eggs are sold in a public market in this undated file photo. — PHILIPPINE STAR/WALTER BOLLOZOS will likely raise its average inflation forecast for this year after the faster-than-expected headline print in January.
“By next year, our projection is that inflation would be within target because our sources of inflation are driven by supply, but we still see some spillovers to the demand ,” Mr. Dakila added. The central bank is also ready to adjust policy stance as necessary “to keep further second-round effects at bay and prevent inflation expectations from becoming disanchored,” BSP Governor Felipe M. Medalla said earlier.Meanwhile, the government should manage inflation before it threatens economic recovery, Philippine Chamber of Commerce and Industry President George T. Barcelon said.
In January, inflation for the bottom 30% income households quickened to 9.7%, from the 9.4% print in December and 4% last year.
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