Central bank sees inflation falling within 1.3-2.1% in August

August 30, 2019

The Bangko Sentral ng Pilipinas Department of Economic Research projects August inflation to settle within the 1.3-2.1 percent range, it said on Friday.

In July, the inflation rate was recorded at 2.4 percent, marking the second straight month of decline after it rose slightly on May.  

''Lower domestic prices for gasoline, diesel and kerosene, the continued decline in rice prices as well as the downward adjustment in electricity rates dampened inflation pressures during the month,'' it said.

''These could be partly offset by the recent depreciation of the peso and higher prices of selected food items,'' it added.

The central bank said it ''will remain watchful of economic and financial developments that could affect the inflation environment in line with its commitment to price stability conducive to long-term economic growth.” DMS