CONSUMER prices will likely hit a fresh nine-year high this month, according to the central bank, but the Department of Finance (DoF)said inflation was likely to stay at 6.4 percent. “The BSP Department of Economic Research projects September 2018 inflation to settle at around 6.8 percent, with a range of 6.3 – 7.1 percent,” the Bangko Sentral ng Pilipinas (BSP) said in a statement released on Friday. In an economic bulletin, the DoF price increases in food items are the main drivers of inflation for September. Consumer price growth accelerated to 6.4 percent in August, well above the central bank’s forecast of 5.7 percent. Official inflation data for August will be announced on October 5.

Source: Manila Times September 28, 2018 09:56 UTC