4 months ‘Inflation likely to dip below 3% in May’ Manilatimes |Biz
DECLINING rice prices could cause the country’s inflation to decelerate further and settle at 2.8 percent in May, an ING Bank economist said on Tuesday. In a statement, economist Nicholas Anthony Mapa said the rate of the increase in the prices of goods and services “is seen to decelerate further in the Philippines with rice prices falling.” This came after the Philippine Statistics Authority (PSA) reported recently that inflation fell to 3.0 percent in April from 3.3 percent in March because of the lower prices of food and other commodities. Latest PSA data showed that the average wholesale price of ... more