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Month-Ahead Inflation Forecast for July 2020

07.30.2020

The BSP Department of Economic Research projects July 2020 inflation to settle within the 2.2 – 3.0 percent range. Upward price pressures were due to higher domestic petroleum prices as well as the uptick in rice prices for the month. These increases are seen to be partly offset by slightly lower electricity rates in Meralco-serviced areas and the continued appreciation of the peso. Going forward, the BSP will continue to closely monitor economic and financial developments to ensure that monetary policy settings remain consistent with the objective of price stability conducive to a balanced and sustained growth of the economy.

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