September inflation seen at 3.4-4.3%


Posted at Sep 27 2012 02:45 PM | Updated as of Sep 28 2012 02:56 AM

Philippine annual inflation in September could, at its worst, accelerate to its fastest in 10 months due to higher fuel prices, but the overall consumer price outlook remains manageable, central bank Governor Amando Tetangco said on Thursday. 

The central bank expects annual inflation in September at 3.4 to 4.3 percent, with the top end of the range the highest since November when the rate hit 4.7 percent. 

Annual inflation in August was at 3.8 percent. 

"This continues to reflect manageable inflation pressures, as the impact of oil price volatility is expected to be dampened by lower electricity prices and broadly stable food prices," Tetangco said in a mobile text message to reporters. 

Tetangco, in an interview with Reuters on Wednesday, said the policy stimulus currently in place was sufficient to support domestic growth, but the central bank can ease policy if needed later this year.