ECONOMISTS expect inflation to settle at 3.1 percent this year, slightly lower than the Bangko Sentral ng Pilipinas’ (BSP) full-year estimate of 3.2 percent. “On the other hand, a key downside risk to inflation was seen to emanate from global economic recovery,” it added. Estimated Dubai crude futures as of end-September showed a higher path for 2017 to 2020 compared to the previous quarter, the report noted. The peso, meanwhile, had depreciated against the US dollar by 2.2 percent on September 29, 2017, closing at P50.82:$1. The BSP report noted that a recovery in global growth appeared to have broadened, with economic activity in the United States, eurozone and having expanded faster and gross domestic product growth in China growing stronger than expected.

Source: Manila Times October 22, 2017 16:30 UTC