By Lawrence Agcaoili (The
Philippine Star) | Updated January 29, 2016 - 12:00am
MANILA, Philippines – The Bangko
Sentral ng Pilipinas (BSP) sees inflation for this month averaging between 0.8
and 1.6 percent amid the minimum fare rollback for jeepneys and cheaper power
rates.
BSP Governor Amando Tetangco Jr.
said the continued softening in oil prices helped offset the rise in rice
prices and the annual adjustment in excise taxes for cigarette and liquor.
“The decline in power rates, lower
domestic oil prices, and downward adjustment in the minimum jeepney fare could
offset the slight uptick in rice prices as well the annual sin tax
adjustments,” he said.
Inflation eased to a 20-year low of
1.4 percent last year from 4.1 percent in 2014 on the back of stable food
prices and cheaper utility rates.
“Going forward, the BSP will
continue to monitor closely evolving price conditions in line with the BSP’s
commitment to price stability conducive to balanced and sustained economic
growth,” Tetangco said.
Earlier, BSP Deputy Governor Diwa
Guinigundo said the country’s current monetary policy settings remain
appropriate as inflation is projected to return gradually to the two percent to
four percent target for 2016 and 2017.
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