BSP sees inflation at 0.8%-1.7% in Oct
Reuters | 10/27/2009 1:20 PM
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MANILA - The Bangko Sentral ng Pilipinas (BSP) said on Tuesday inflation in October should come in between 0.8% to 1.7% year-on-year, higher than the annual 0.7% rate in September.
"This forecast incorporates the estimated impact on agricultural output of typhoons, as well as increases in domestic fuel pump prices," BSP Governor Amando Tetangco said in a mobile phone text message.
"There may be a slight uptick in our full year baseline forecast for both 2009 and 2010 but both will still be well within their respective target ranges."
The BSP has said average inflation should be 3.03% in 2009 and 3.43% in 2010. Its official inflation targets are 2.5% to 4.5% in 2009 and 3.5% to 5.5% next year.
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