BSP sees August inflation at 2.5-3.3%

Analysts predict that inflation likely increased in August due to rising food and transportation costs during a two-week lockdown.

The Bangko Sentral ng Pilipinas (BSP) projects August inflation within the range of 2.5% to 3.3%, higher than July's rate of 2.7%.

Higher domestic prices for gasoline and liquefied petroleum gas contributed to upward pressure on prices, while lower electricity rates and a stronger peso partially offset these increases.