The Bangko Sentral ng Pilipinas (BSP) said on Friday that the country’s headline inflation likely remained steady at 2.3 percent on higher power, oil and food prices. In a statement, BSP Governor Benjamin Diokno said October’s point inflation estimate was still within the 1.9-to-2.7-percent forecast range of the central bank’s Department of Economic Research. The projection matched the 2.3-percent consumer price growth in September, but was faster than the 0.8-percent in October 2019. Earlier, Manila Water Co. Inc. and Maynilad Water Services Inc. announced lower water rates for the fourth quarter. These risks to inflation and output underscore the need for continued policy support, he added.

Source: Manila Times October 30, 2020 16:41 UTC