This brought the average inflation in the first half to 3.1 percent, slightly higher than the midpoint of the target range of 2 percent to 4 percent for the year. The June inflation was lower than market expectations of 3 percent, and within the government’s target range of 2 percent to 4 percent. BSP Governor Nestor Espenilla Jr.Bangko Sentral Governor Nestor Espenilla Jr., who succeeded Tetangco on Monday, said the June inflation was a welcome news but not unexpected. The lower inflation is partly driven by lower fuel prices and power rates,” he said. Bangko Sentral Deputy Governor Diwa Guinigundo said inflation would likely remain manageable in the coming months.

Source: The Standard July 05, 2017 13:18 UTC