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BSP expects September inflation to rise again
The Bangko Sentral ng Pilipinas expects September inflation to fall between 6.4% and 7.4%, above the 6.1% recorded in August. The forecast was released on September 30. The official September figure still has to come from the Philippine Statistics Authority.
The BSP pointed to higher prices of vegetables, fish, rice, and fruits following bad weather, along with petroleum prices and a weaker peso. Lower meat prices and electricity rates could partly soften those increases.
For households, this points to continued pressure on the grocery budget. The figures describe how much prices have changed from a year earlier. They do not mean that every item became 7.4% more expensive in September, and the upper end of the forecast is not yet the measured result.
WHAT TO WATCH
The PSA's September report and which basic goods account for the increase. A national average can still hide much heavier costs for families who spend most of their income on food.