BSP cheers 0.9 inflation but warns of higher prices during holidays

By: - Reporter / @daxinq
/ 04:00 PM October 04, 2019

One of the loudest cheers at the 0.9 inflation rate in September came from the Bangko Sentral ng Pilipinas (BSP) which had forecast an inflation range of 0.6 to 1.4 percent, nearly hitting the exact mark.

The BSP, however, warned against risks that a global trade war could bring. The United States is continuing its tense trade relations with China while the World Trade Organization allowed the US to impose tariffs on several European Union goods.


In a statement, the BSP said the 0.9 inflation rate was “driven by continued decline in rice prices and electricity rates which offset higher prices of petroleum and selected food products.”

September inflation, lowest in three years, was consistent with assessment that inflation would continue to skid downhill in the third quarter of 2019 but pick up slightly in the fourth quarter, said the BSP./TSB


Subscribe to Inquirer Business Newsletter
Read Next
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: BSP, central bank, electricity, fuel, holidays, Inflation, Prices, rice, trade war
For feedback, complaints, or inquiries, contact us.

© Copyright 1997-2020 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.