MANILA - Inflation in September likely settled within the 0.6 percent to 1.4 percent range, a Bangko Sentral ng Pilipinas think tank said Monday.
Continued decline in rice prices and the downward adjustment in electricity rates may be offset by recent increase in fuel prices and other food items due to the bad weather during the month, the BSP's Department of Economic Research said in a statement.
The BSP said it would monitor economic and financial developments that could affect the inflation environment.
The consumer price index rose 1.7 percent in August from 2.4 percent in July. It was the first time in 3 years that inflation was below government's target of 2 to 4 percent.