Poll: September inflation likely rose to 6.7%
Inflation likely picked up in September as higher fuel and food prices, weather-related supply disruptions and the peso’s weakness reversed four straight months of easing, economists said. A poll of 13 economists conducted by The STAR yielded a median forecast of 6.7 percent for September inflation, higher than the 6.1-percent print in August.
A poll of 13 Filipino economists predicts September inflation rates of 6.7%, up from the 6.1% figure recorded in August. This increase is attributed to higher fuel and food prices, supply disruptions due to weather, and the peso's weakening. The Philippine Statistics Authority will release the official September figures tomorrow.
Forecast ranges from 6.3% to 7%. If accurate, September would be the fastest inflation rate since April, when inflation peaked at 7.2%. Chinabank chief economist Domini Velasquez predicted a 7% increase, citing higher fuel prices, increased food prices, and weather-related disruptions to vegetable and agricultural product supply.
Core inflation, which excludes volatile food and energy items, is expected to accelerate to 4.7% from 4.1% in August, indicating underlying price pressures have intensified. The Bangko Sentral ng Pilipinas (BSP) might raise interest rates by 25 basis points in October, bringing the target reverse repurchase rate to 5.25%.
Written by urgent.news from Philippine Star Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
