BSP sees inflation settling above three percent for 2018-19

October 5, 2018

The Bangko Sentral ng Pilipinas (BSP) said latest forecasts show inflation settling above 3 percent, plus and minus one percentage point for 2018-19.

The BSP issued this statement on Friday after the Philippine Statistics Authority (PSA) said September inflation came in at 6.7 percent.

“The latest average baseline inflation forecasts indicate that inflation will settle above the 3.0 percent ± 1.0 percentage point target range for 2018-2019," the BSP said.

The BSP said "implementation of non-monetary measures, particularly approval of rice tarrification along with additional importation of rice and other food items, could lead to an earlier return of inflation to within the target range in 2019."

It added that "inflation is seen to approach the midpoint of the target range in 2020."

The BSP "reaffirms its strong commitment and readiness to take all necessary policy actions to address the threat of high inflation and deliver on its primary mandate of price stability.” DMS