August inflation may hit 6.3% — BPI
The worst is far from over.
Inflation may have zoomed to 5.7 percent in July, well beyond the government’s 2-4 percent target. But economist Jun Neri of the Bank of the Philippine Islands (BPI) said this could jump further this month.
“Based on our latest estimates PHL 2018 inflation may peak in Nov at 6.3%, a 2.3 ppt monthly target breach using 2012 base year,” Neri said on Twitter.
However, he called for calm as this is nothing compared to a decade ago, back when inflation reached double-digit in August 2008.
Based on our latest estimates PHL 2018 infl may peak in Nov at 6.3%, a 2.3 ppt monthly target breach using 2012 base yr. This will be nothing compared to the MASSIVE 7++ ppt breach in Aug 2008 using 2000 base yr, the applicable base that time #AntiHindsight #OilPriceShock
— Jun Neri (@Jun_Neri) August 7, 2018
Will this be enough to restore calm?