Fuel price hikes seen pushing October inflation up—BSP

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BSP average prices of basic goods and services in the local economy to rise by 4.5-5.3 percent in October due largely to the steady increase in petroleum prices in the local and international market. | daxinq

“Moving forward, the BSP will continue to closely monitor emerging price developments to help ensure that its primary mandate of price stability conducive to balanced and sustainable economic growth is achieved,” Diokno said.

Last week, the central bank reiterated that domestic inflation remained “manageable” and maintain conditions to keep domestic interest rates at historic lows as part of the regulator’s efforts to jumpstart growth that has been ravaged by the COVID pandemic.

 

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