INFLATION is seen peaking in October or November but will unlikely hit 7 percent, a member of the Bangko Sentral ng Pilipinas’ policymaking Monetary Board said Tuesday.
The Cabinet-level Development Budget Coordination Committee, meanwhile, raised its 2018 inflation forecast range to 4.8-5.2 percent from 4-4.5 percent during the previous DBCC meeting in July.
For 2019, economic managers see headline inflation averaging between 3 percent and 4 percent, while they expect the rate of increase in prices of basic goods to return within the 2-4 percent target range starting 2020.
In September, inflation reached a new over nine-year high of 6.7 percent, bringing the nine-month average to 5 percent, above the government’s target.
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