BSP forecasts Oct 2024 inflation 2%-2.8% amid rising food & fuel prices & peso depreciation.

The Bangko Sentral ng Pilipinas (BSP) forecasts October 2024 inflation to be between 2% and 2.8%, driven by rising food and fuel prices and the peso's depreciation. While costs for vegetables, fruits, fish, and petroleum are climbing, potential decreases in rice, meat prices, and electricity rates may mitigate some inflation. The BSP recently lowered the reverse repurchase rate to 6%, indicating a proactive approach to managing economic conditions.

October 31, 2024
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