Inflation likely at 1.3 to 2.1 percent in August: BSP think tank

ABS-CBN News

Posted at Aug 30 2019 02:57 PM

MANILA - Inflation for the month of August likely settled within 1.3 to 2.1 percent range due to lower gas and rice prices as well as reduced electricity rates, the Bangko Sentral ng Pilipinas' think tank said Friday.

A weak peso and a spike in the prices of other food items could offset diminished pressure from power, fuel and rice prices, the BSP's Department of Economic Research said in a statement. 

The consumer price index rose 2.4 in July from 2.7 percent in the previous month, or within analysts and government forecasts. 

Official inflation data for August is due out on Sept. 5.