Bank reserve cuts loom as BSP sees moderating January inflation

MANILA, Philippines -- Prices of consumer goods and services are expected to have risen at a more moderate pace in January due to easing rice prices, although the impact of the second consecutive year of excise tax increases will continue to exert upward pressure on the inflation rate. According to the Bangko Sentral ng Pilipinas (BSP), its economists expect consumer price index in the first month of 2019 to settle within the 4.3--5.1 percent range. The inflation rate for the previous month of December 2018 stood at 5.1 percent and the annual average at the end of last year came in at 5.2 percent, overshooting the central bank's target range of 2-4 percent due to the combined effec...

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