INFLATION likely accelerated to a new nine-year high in September based on a Manila Times poll of economists, whose forecasts for the month ranged from 6.4-7.0 percent with a 6.7 percent average. “[F]ood and fuel prices leading the charge” pushed inflation higher last month, BPI Vice President and lead economist Emilio Neri Jr. said. We expect government measures to have a more significant impact on major food prices although [Typhoon] ‘Ompong’-related price pressures would likely keep inflation elevated,” he added. “We see food inflation rising further in the near term on supply disruptions, exacerbated by Typhoon ‘Ompong,’” Standard Chartered economist Chidu Narayanan said. “While our estimate shows a steady inflation reading this month, it would not be surprising if actual inflation comes out higher than expected given the negative impact of Typhoon ‘Ompong’ on agricultural production.

Source: Manila Times September 30, 2018 16:18 UTC