Gatchalian: ‘Better than expected’ June inflation to give BSP ‘more flexibility’
MANILA, Philippines — The country’s 2.7% inflation in June is seen to provide the Bangko Sentral ng Pilipinas (BSP) with “more flexibility to implement policy adjustments,” Senator Sherwin Gatchalian said Friday.
This, according to the legislator, will in turn help spur the economy and lift the country’s gross domestic product (GDP).
“The better-than-expected June inflation result will provide the Bangko Sentral ng Pilipinas with more flexibility to implement policy adjustments which will help spur the economy and lift the country’s gross domestic product back to 6 percent,” Gatchalian said in a statement.
The senator noted the easing inflation in June was lower than the average forecast of economic analysts.
Philippine Statistics Authority (PSA) data released Friday showed that last month’s headline inflation rate was the lowest since the 2.6 percent posted in August 2017.
(Editor: Katherine G. Adraneda)
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