Sumary of Inflation eases in Q2, to remain within target despite rising oil: BSP:
- , ABS-CBN News/file photo MANILA – Average headline inflation eased in the second quarter, and inflation is expected to remain within the government’s target range despite rising prices of crude oil, the Bangko Sentral ng Pilipinas said on Thursday.
- The BSP said headline inflation declined to an average of 4.3 percent in the second quarter from 4.5 percent in the first quarter.
- While inflation remained above the government’s 2 to 4 percent target for the year, the BSP said food inflation was slower mainly due to the decline in the prices of rice, fruits, and vegetables.
- Meanwhile, non-food inflation rose as higher petroleum prices drove transport prices.
- said “inflation will remain within the target band of 3 percent plus and minus one percentage point even with elevated global oil prices.