Inflation ‘still elevated’ in February, but month-on-month improvement seen — BSP

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Inflation is expected to remain elevated this month amid the still lingering supply constraints on some food items and higher utility costs, a top official of the Bangko Sentral ng Pilipinas (BSP) said Tuesday.

At the sidelines of the Manila Times Economic Forum in Makati City, BSP Senior Assistant Governor for the Monetary Policy Sub-sector Iluminada Sicat told reporters that the February inflation print is forecasted to be “still elevated.”inflation - the rate of increase in the prices of goods and services - of 8.7% in JanuaryThis is a fresh 14-year high or the fastest inflation print since the 9.1% recorded in November 2008.

The BSP official, however, said that there is an expected improvement in inflation on a month-on-month basis.

 

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