Prices of refined oil products have been the major drivers of our country’s inflation rate. Last Friday, the Bangko Sentral ng Pilipinas (BSP) released its figures on inflation rate that points up again higher than the nine-year high inflation of 6.4 percent in August. The BSP disclosed September’s inflation rate could accelerate further to 6.8 percent. The Department of Finance (DOF), on the other hand, predicted a much lower head inflation rate at 6.4 percent for September. After reaching the “peak,” Diokno reiterated their estimates that inflation rate will “taper off” in the fourth quarter of this year.

Source: Philippine Star October 02, 2018 15:44 UTC