Inflation is slowing down as the month-on-month rate has been near zero since January, according to Bangko Sentral ng Pilipinas Governor Felipe Medalla.
MANILA, Philippines – Headline inflation is estimated to fall below 4% year-on-year by September or October 2023, according to Bangko Sentral ng Pilipinas Governor Felipe Medalla.
Medalla spoke to reporters on the sidelines of the Fintech Alliance Philippines General Membership Meeting on Monday, May 29. “The message is, within target year-on-year already by September or October. And next year is slightly lower than the midpoint of our target,” he added.But inflation has begun to slow down as the month-on-month rate has been near zero since January, according to Medalla.
“Ang dahilan diyan ay na-notice namin na after January, halos zero inflation. That is from one month to the next, hindi na halos gumagalaw ‘yung price index. Now, of course, that will be the temporary effect of prices being too high.
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