BSP Deputy Governor Francisco Dakila Jr. said in a panel discussion during the Post-SONA Philippine Economic Briefing in Cebu the trajectory of inflation in the past six months was very encouraging. READ MORE:
MANILA – Inflation rate in the Philippines may soften to 4 percent or lower as early as September 2023, a Bangko Sentral ng Pilipinas official said Friday.
He said inflation was expected to average 5.4 percent this year. “Barring any unforeseen supply shocks… inflation should be below 4 percent by the fourth quarter this year,” Dakila said. Inflation in July eased to a 16-month low of 4.7 percent from 5.4 percent in June, pulled down by slower year-on-year increases in the prices of food and non-alcoholic beverages, housing, water, electricity, gas and other fuels.
This brought the average inflation in the first seven months to 6.8 percent, still higher than the target range.Meanwhile, the BSP’s preliminary forecast indicates that inflation would likely settle at 3.2 percent in 2025.
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