Inflation seen hitting 3.8% due to floods:
MANILA, Philippines—The Bangko Sentral ng Pilipinas said Tuesday that inflation could hit as much as 3.8 percent in August as the recent floods temporarily disrupted food supply.
Citing latest estimates by the central bank, BSP Governor Amando Tetangco Jr. said inflation could range between 2.9 and 3.8 percent in August.
The forecast takes into account the adverse impact on prices of the heavy rains, the increase in utility rates, and the depreciation of the peso, on one hand, and the positive effect of a healthy supply of other goods, on the other.
The peso is expected to average in the 42-to-a-dollar territory in August after strengthening t...
Keep on reading: Inflation seen hitting 3.8% due to floods
MANILA, Philippines—The Bangko Sentral ng Pilipinas said Tuesday that inflation could hit as much as 3.8 percent in August as the recent floods temporarily disrupted food supply.
Citing latest estimates by the central bank, BSP Governor Amando Tetangco Jr. said inflation could range between 2.9 and 3.8 percent in August.
The forecast takes into account the adverse impact on prices of the heavy rains, the increase in utility rates, and the depreciation of the peso, on one hand, and the positive effect of a healthy supply of other goods, on the other.
The peso is expected to average in the 42-to-a-dollar territory in August after strengthening t...
Keep on reading: Inflation seen hitting 3.8% due to floods
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