October inflation likely within 1.9 to 2.7 percent range: BSP think tank

ABS-CBN News

Posted at Oct 30 2020 01:29 PM | Updated as of Oct 30 2020 03:14 PM

People visit “Bagsakan,” a bazaar selling local food and merchandise at discounted prices organized by the Department of Trade and Industry (DTI) through its Bureau of Domestic Trade Promotion (BDTP) in Festival Mall in Alabang Muntinlupa on September 04, 2020. Jonathan Cellona, ABS-CBN News/File

MANILA - Inflation in October likely settled within the 1.9 to 2.7 percent range, the Bangko Sentral ng Pilipinas' Department of Economic Research said Friday.

Higher electricity rates in areas served by Meralco, LPG and kerosene price increases and the impact of weather disturbances on select food items contributed to the upward price pressures, the BSP-DER said in a statement.

These can be partly offset by lower prices of diesel, gasoline and rice as well as the downward adjustments in water rates in areas serviced by Manila Water and Maynilad, it said.

"Looking ahead, the BSP will remain watchful of economic and financial developments to ensure that its primary mandate of price stability conducive to balanced and sustainable economic growth is achieved," the think tank said.

Inflation was at 2.3 percent in September. 

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