DOF expects modest uptick in commodity pricesThe slight increase in core inflation last month indicates that consumers may see some modest uptick in commodity prices in the immediate near-term, the Department of Finance (DOF) said​ Thursday. “Outlook for the immediate near-term may see modest uptick in inflation, as indicated by the rise in core inflation from 1.9 percent to 2.0 percent,” Beltran said in a report submitted to Finance Secretary Carlos Dominguez III. “The lower-than-expected inflation rate is largely accounted for by the continued easing of food prices. While the DOF had expected food prices to rise by 2.7 percent, actual increase turned out to be 2.4 percent,” Beltran told members of Thursday Club. Average price of gasoline during the month also declined to P39.07 per liter from P39.88 in July and P42.94 a year before.

Source: Manila Bulletin September 16, 2016 09:33 UTC