{"id":150457,"date":"2018-02-01T02:02:20","date_gmt":"2018-02-01T07:02:20","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=150457"},"modified":"2018-02-01T02:02:20","modified_gmt":"2018-02-01T07:02:20","slug":"bsp-sees-3-4-4-inflation-for-january","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2018\/02\/01\/bsp-sees-3-4-4-inflation-for-january\/","title":{"rendered":"BSP sees 3.4-4% inflation for January"},"content":{"rendered":"
\"Higher<\/a>
Higher oil and commodity prices are seen as upside risks for Philippines\u2019 inflation rate in January 2018 and bring the rate between 3.5 and four percent. (Photo<\/a> by Marlon E\/Flickr<\/a>, CC BY-SA 2.0<\/a>)<\/figcaption><\/figure>\n

MANILA\u00a0— Higher oil and commodity prices are seen as upside risks for Philippines\u2019 inflation rate in January 2018 and bring the rate between 3.5 and four percent.<\/p>\n

In a statement, the central bank said its Department of Economic Research considered the impact of higher fuel prices overseas and weather-related disturbances in the country as factors that would push up prices.<\/p>\n

\u201cIn addition, higher excise taxes on fuel, sugar sweetened beverages with the implementation of the TRAIN (Tax Reform for Acceleration and Inclusion) this month, would lead to additional upward price pressures,\u201d it said, referring to the first package of the tax reform program that is being implemented starting Jan. 1 this year.<\/p>\n

\u201cThe increase in prices could be partly offset by lower electricity rates in Meralco-serviced areas for the month,\u201d it added.<\/p>\n

The government has a two to four percent inflation target for 2017-19.<\/p>\n

Last year, inflation averaged at 3.2 percent, higher than year-ago\u2019s 1.8 percent rate but still within the government\u2019s target range.<\/p>\n

Last December alone, inflation was flat at 3.3 percent but higher than year-ago\u2019s 2.6 percent.<\/p>\n

Philippine monetary officials forecast this year\u2019s inflation to average at 3.4 percent.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

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