MANILA, Philippines (Xinhua) – Inflation growth in February is forecast to grow between 2.8 to 3.7 percent in February on back of higher oil prices, the central bank said today. Central Bank Governor Amando Tetangco Jr. said lower food and utility prices will offset the rise in oil prices. He added that February’s forecast is still within the low-end of this year’s three to five percent inflation target.
“Results of the (central bank’s) latest forecasting exercises suggest that average inflation for 2013 and 2014 could still settle at the lower half of the government-set target range,” Tetangco said in a text message sent to reporters.
Tetangco said this continues to reflect “manageable inflation pressures and well-anchored inflation expectations.”
Inflation growth in February is forecast to grow between 2.8 to 3.7 percent in February on back of higher oil prices, the central bank said today.
