Inflation likely climbed to another high of 5.9 percent year-on-year in August even as price increases from a month ago slowed down, the Bangko Sentral ng Pilipinas (BSP) said Friday. Citing the projection of its Department of Economic Research, the BSP said in a statement that headline inflation would have settled within the range of 5.5-6.2 percent in August. The BSP blamed the year-on-year increase in average consumer prices to higher rice and food prices mainly due to weather disturbances as well as supply disruptions, on top of higher gasoline, LPG and electricity costs. Tempering the upward price pressures in August were the decline in diesel and kerosene pri...
Keep on reading: BSP sees August inflation at 5.9%
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