Inflation likely peaked in January, says BSP chief - BusinessWorld Online

  • 📰 bworldph
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 68%

Philippines Headlines News

Philippines Latest News,Philippines Headlines

HEADLINE INFLATION “most likely” peaked in January, but there could be surprise shocks that may affect prices moving forward, Bangko Sentral ng Pilipinas (BSP) Governor Felipe M. Medalla said on Wednesday. READ:

Fresh produce is being sold at the Marikina public market in this file photo. Inflation surged to a new 14-year high of 8.7% in January. — PHILIPPINE STAR/WALTER BOLLOZOS

Mr. Medalla said inflation “most likely” peaked in January. “ of course, I can’t rule out another surprise supply shock.”The BSP in a statement late on Tuesday said the January inflation data showed the “need for sustained eorts to combat price pressures, particularly non-monetary government measures to mitigate the impact of persistent supply-side constraints.

Food inflation quickened to 11.2% from 10.6% a month ago and 1.6% in January 2022, which was the fastest since the 11.3% in March 2009. The central bank has raised 350 basis points last year, bringing its benchmark policy rate to a 14-year high of 5.5%.ation is expected to ease, bringing the policy rate back to 5.5% by end-2023.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 9. in PH

Philippines Latest News, Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

BSP: Fixing supply-side issues will ease inflation | Cai U. OrdinarioTHE Bangko Sentral ng Pilipinas (BSP) called for “sustained efforts” to fight inflation by addressing supply-side constraints. In a statement on Tuesday, BSP said non-monetary government measures must be implemented to “combat price pressures.” BSP said the 8.7 percent year-on-year in January 2023 was above the BSP’s forecast range of…
Source: BusinessMirror - 🏆 19. / 59 Read more »

BSP ready to adjust policy rate to battle inflationBSP said it remains focused on restoring inflation to within the government’s target, and stands ready to adjust its monetary policy settings, after inflation hit a fresh 14-year high in January. That statement doesn’t inspire a ton of confidence given what’s happened. PhilstarNews Bakit parating reactive, imbes proactive o preventive?
Source: interaksyon - 🏆 24. / 51 Read more »

PH inflation blows past expectations, soars to 8.7% in January 2023Contrary to government officials’ and economists’ expectations, the Philippines’ inflation rate spiked to 8.7% in January 2023 instead of slowing down.
Source: rapplerdotcom - 🏆 4. / 86 Read more »

Philippine January annual inflation accelerates to 8.7%MANILA— Philippine annual inflation in January was 8.7%, the statistics agency said on Tuesday, faster than analyst expectations. Economists in a Reuters
Source: interaksyon - 🏆 24. / 51 Read more »

Marcos Jr. sees inflation to start easing after hitting 8.7% in JanuaryPresident Ferdinand Marcos Jr. said he expects to see the country’s inflation rate going down and the 8.7 percent rate posted in January 2023 is “going to be as high as it’s going to get.” | DYGalvezINQ DYGalvezINQ Hahaha! Wow! Nananaginip ng gising 😂😂😂
Source: inquirerdotnet - 🏆 3. / 86 Read more »

Peso tumbles to P55-per-dollar level as headline inflation surges in Jan. - BusinessWorld OnlineTHE PESO sank to the P55-per-dollar level on Tuesday as January headline inflation was faster than expected and amid hawkish signals from the US Federal Reserve. The local currency closed at P55.085 versus the greenback on Tuesday, declining by 69.5 centavos from Monday’s P54.39 finish, data from the Bankers Association of the Philippines showed. The […]
Source: bworldph - 🏆 9. / 68 Read more »