BSP: Inflation surely lower in Nov
Lower fuel prices are helping keep inflation down.
The Bangko Sentral ng Pilipinas (BSP) is sure that inflation will be lower in November, down from the 6.7 percent peak in October.
“The BSP Department of Economic Research projects November 2018 inflation to settle within the 5.8-6.6 percent range,” it said in a statement. “The deceleration of inflation for the month could be attributed to the sharp decline in petroleum prices, the normalization of supply conditions in rice and other agricultural commodities, and the peso appreciation.”
This may be enough to offset higher jeepney and bus fares, plus higher electricity rates covered by MVP’s Meralco.
This would be make the economic team’s pronouncements true, as they are betting that inflation will go down starting the fourth quarter of 2018.