BSP projects Aug inflation within 2-4% range

Bangko Sentral ng Pilipinas (BSP) projects August 2024 inflation to ease within its target range of 2-4%, influenced by lower domestic oil prices, reduced costs for rice, fish, and meat, and peso appreciation.

Despite these positive factors, higher electricity rates and agricultural commodity prices due to unfavorable weather conditions pose challenges.

Rice tariff reduction is also expected to mitigate price pressures and further stabilize inflation levels.