BSP sees September inflation to settle within 2% to 2.8%

The Bangko Sentral ng Pilipinas (BSP) said Monday (Sept. 30, 2024) it expects September inflation to settle within 2 percent to 2.8 percent. (PNA file photo by Robinson Niñal Jr.)

By Anna Leah Gonzales, Philippine News Agency

MANILA – The Bangko Sentral ng Pilipinas (BSP) expects September inflation to settle within 2 percent to 2.8 percent.

“Negative base effects along with lower prices of food commodities, including rice, meat, and vegetables, as well as lower domestic oil prices, and the appreciation of the peso are the primary sources of downward price pressures for the month,” the central bank said in a statement late Monday.

The BSP said these are expected to offset the higher prices of fish and fruits, and electricity rates.

“Going forward, the Monetary Board will continue to take a measured approach in ensuring price stability conducive to balanced and sustainable growth of the economy and employment,” the BSP said.

The Philippine Statistics Authority is set to release the September 2024 headline inflation data next week.

Headline inflation eased to 3.3 percent in August from 4.4 percent in July.