5 months BSP forecasts below 2% inflation in Aug. MB |Biz
By Lee C. Chipongian Inflation could have dropped to as low as 1.3 percent for the month of August from 2.4 percent in July because of lower fuel costs and rice prices, the Bangko Sentral ng Pilipinas (BSP) said Friday. MB file photo. This is the first time the BSP forecasts a below two percent inflation this year. In a statement, its Department of Economic Research said August inflation could come in as 1.3 percent or 2.1 percent, still lower than July’s actual number. “(DER) projects the August 2019 inflation to settle within the 1.3-2.1 percent range. Lower domestic prices ... more