Agriculture Secretary Francisco Tiu Laurel is casting doubt on the Bangko Sentral ng Pilipinas’ (BSP) projection that inflation likely quickened in September due to higher rice prices, maintaining that retail prices of the staple remain stable.
The BSP estimated that last month’s inflation rate may settle within the range of 1.5 percent to 2.3 percent, quicker than the 1.5 percent in August.
“Upward price pressures for the month are likely to arise from higher prices of rice and fish. Elevated domestic fuel costs likewise contribute to upside price pressures for the month,” the BSP said.
“These pressures could be partially
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