MANILA – The Bangko Sentral ng Pilipinas (BSP) expects headline inflation to settle within 7.1 to 8.1 percent.
In a statement Friday, the BSP said upward price pressures are likely to come from higher fuel, electricity, and transport fares.
“These pressures could be partially offset by lower prices of key agricultural commodities, such as rice, vegetables, meat, and fish, owing to favorable supply conditions,” the BSP said.
The central bank assured that it will remain vigilant and guided by incoming data, particularly on inflation and growth prospects.
“It will continue to assess the impact of the latest developments in the Middle East on the country’s inflation and economic outlook,” the BSP said.
Headline inflation accelerated to 7.2 percent in September from 6.1 percent in August.
The Philippine Statistics Authority will release the October inflation data on Nov. 5
