BSP projects August inflation rate to settle within 3.2%-4% range

PTVPhilippines

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00:00The Banco Central ng Pilipinas, or BSP, estimates the country's August inflation rate will settle

00:05within the 3.2 to 4 percent range.

00:08BSP says unfavorable weather conditions of late have resulted in higher electricity rates

00:14and higher prices of agricultural products, which can be identified as primary sources

00:19of the upward price pressures for the month.

00:22However, such trend is expected to be offset by lower domestic oil prices, lower prices

00:28of rice, fish and meat prices, along with the appreciation of the peso.

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