BSP says Nov. inflation means “price pressures have started to ease”

December 5, 2018

The Bangko Sentral ng Pilipinas ( BSP) said November's inflation rate of six percent " confirms the BSP's assessment that price pressures have started to ease in Q4 2018."

The Philippine Statistics Authority said the November figure is lower than October's 6.7 percent which is a nine-year high. 

"The recent approval of the rice tariffication bill forms the basis for a significant reduction in the BSP inflation forecasts, bringing inflation back to within the target range in 2019-2020," the central bank said.

The central bank said it "will consider all relevant information at its December 2018 policy meeting and will remain on guard that the monetary policy stance remains in line with its primary mandate of price stability.”

The BSP raised policy rates by 1.5 percentage points since inflation began rising in the second quarter. DMS