Inflation climbed up some more in September, says BSP

MANILA  -Overall inflation in the Philippines is expected to have climbed up some more, somewhere in the range of 5.3 percent to 6.1 percent in September, from 5.3 percent in August, according to the Bangko Sentral ng Pilipinas.

The Philippine Statistics Authority will announce by Oct. 5 the official readout for the September rate of growth in prices of goods and services commonly purchased by the average Filipino household.

The BSP said in a statement that higher prices of fuel, electricity, and key agricultural commodities, as well as the peso depreciation are the primary sources of upward price pressures in September.

“Meanwhile, lower rice and meat prices could contribute to downward price pressures for the month,” the central bank added.