MANILA – The Bangko Sentral ng Pilipinas on Thursday raised its inflation forecast to 5.2 percent from 4.9 percent in 2019.
Inflation outlook for 2020 were also revised to 4.3 percent from 3.7 percent in 2020, citing the higher than expected inflation in August, the effects of typhoon Ompong and the slower gross domestic product (GDP) growth for the first half of 2018, BSP assistant governor Francisco Dakila said in a press briefing.
Despite the revision, Dakila said, rising prices would taper off next year and settle within the government’s target of 2 to 4 percent.
“If rice tarrification pushes through in 2018 that could push inflation rate back to within target range,” Dakila said. (ABS-CBN News)
