“Pansamantala lamang ang pagtaas ng inflation rate nitong Hulyo dahil sa tinatawag nating base effect sa presyo ng bigas. Food inflation accelerated due to faster price increases in meat and fruits, although rice inflation remained high. The BSP projects that inflation will stabilize and follow a downward trend starting in August. These include reduced rice tariffs, expected to lower retail rice prices as more imports augment local supply. “Inflation rate is expected to stabilize and fall within target for the rest of the year as the impact of government interventions, particularly the reduced rice tariffs, will be more pronounced starting this August,” he noted.

Source: The Guardian August 07, 2024 16:26 UTC