MANILA, Philippines — The pace of price increases for basic goods and service in the country was expected to decline toward the end of the year, the Philippine central bank said on Tuesday (July 6), a prediction that was reinforced by new data showing the inflation rate declining to its lowest in six months.
In a statement, the Bangko Sentral ng Pilipinas (BSP) said that the consumer price index will remain relatively high for now, with June 2021 inflation—4.1 percent—being “consistent with expectations that inflation could remain above target in the near term as meat and oil prices remain elevated.”
The latest inflation rate was within the BSP’s forecast …
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