Price pressure expected as a “Ruby” storms Phl

Bangko Sentral ng Pilipinas (Central Bank of the Philippines). Wikipedia photo

MANILA – The Bangko Sentral ng Pilipinas is expecting a build up of price pressures as Typhoon “Ruby” makes a landfall this weekend.

Despite this, this year’s inflation target is secured according to BSP Governor Amando M. Tetangco as the rate of the price increases for November were on its slowest in a year.

Last month’s inflation rate was slower than expected from October’s 4.

3 to at 3.7 percent.

“This makes us poised to meet the 2014 target,” Tetangco said.

“With lower international oil prices and a firmer peso, we are likely to see continued manageable inflation,” he said.

However, there might be lesser prospect for inflation next year despite rebound in international oil prices.

“On the domestic front, we will monitor how these global devel opments will affect domestic growth prospects and inflation,” he said.

“We will adjust the stance of policy as necessary to respond to the emerging balance of risks to inflation,” Tetangco added.