Inflation likely slowed anew in January – BSPhome/Business/Top Business/Inflation likely slowed anew in January – BSPInflation could have slowed for a third straight month in January despite fresh excise tax hikes, the Bangko Sentral ng Pilipinas (BSP) indicated on Thursday as it issued a 4.3-5.1 percent forecast for the month. The pace only began moderating in November (6.0 percent) and December (5.1 percent — the upper end of the BSP’s January forecast), which capped full-year inflation at 5.2 percent. “Domestic oil price hikes, due to higher international crude oil prices and the second tranche of the excise tax adjustment from the Train law, is seen to be the primary driver of inflation for the month,” the BSP said. Oil firms increased pump prices four times this month as a second round of excise tax hikes took effect. Alcohol excise tax rates also increased by 4 percent this year as prescribed by Bureau of Internal Revenue Revenue Regulation 17-2012.

Source: Manila Times January 31, 2019 16:30 UTC