Inflation in Philippines likely down to 2% last month

The central bank said most of the downward price pressures in September came from cheaper food items like meat, vegetables and rice. — Bloomberg

MANILA: Lower food and oil prices as well as distortions from high-base effects might have pulled down inflation to the 2% level in September, giving the Bangko Sentral ng Pilipinas (BSP) space to further slash borrowing costs.

In a statement, the BSP said consumer price increases last month likely settled between 2% to 2.8%.