eseoulpost
BusinessUAE
Slowdown of PH inflation rate in June '17 as expected — BSP
min  |  min
폰트키우기 폰트줄이기 프린트하기 메일보내기 신고하기
승인 2017.07.05  
트위터 페이스북 미투데이 요즘 네이버 구글 msn
   

MANILA, July 5 -- Further deceleration of Philippines' inflation rate to 2.8 percent in June 2017 from month-ago's 3.1 percent is a "welcome news" and is in line with expectations, Bangko Sentral ng Pilipinas (BSP) Governor Nestor Espenilla Jr. said Wednesday.
The slowdown of rate of price increases for the second consecutive month this year is within the central bank's 2.4 to 3.2 percent forecast range for June.
Highest level, so far, this year is 3.4 percent, hit last March and April.
Last month's level, however, is higher than year-ago's 1.9 percent and brought the six-month average this year to 3.1 pecent, still above the midpoint of the government's two to four percent target.
During the same period, core inflation, which excludes volatile food and oil items, also slowed to 2.6 percent from month-ago's 2.9 percent, bringing the year-to-date average to 2.8 percent.
Espenilla said continued slowdown of inflation gives Philippines' monetary officials more leeway in instituting measures that would further support the country's financial market.
"This validation gives us the space to carefully consider our policy options with respect to fine tuning deployment of our monetary instruments to further the market-based development of the domestic financial market," he added.
With the sustained slowdown of domestic inflation rate, ANZ Research cut its inflation forecast for this year and the next.
In a research note, the researh arm of Australia-based financial institution slashed its inflation forecast for this year to three percent from 3.2 percent and to 3.3 percent for 2018, from 3.5 percent.
It, however, clarified that the latest foreacasts "do not consider the proposed tax reforms which could push inflation higher at least in the intial stages of implementation."
It said that, for one, the proposed hike in oil and vehicles excise taxes is expected to also increase transportation cost, which, it noted, accounts for about eigh percent of consumer price index (CPI).
Citing estimates by the Department of Finance (DOF), ANZ Research said impact of these excise tax hikes on headline inflation is about 0.9 percentage points during the tax reform's first year of implementation.
"We will revisit our inflation forecasts based on the progress the government makes in passing this tax package," it said.
Along with the cut in its inflation forecast, ANZ Research also revised its forecast for the hike in the BSP rates from two 25 basis points increase in the second half of 2017 to just one 25 basis points hike in the last quarter of 2017.
It also now considers additional 50 basis points increase in the first quarter of 2018. (Joann S. Villanueva/PNA)

 

< 저작권자 © eseoulpost 무단전재 및 재배포금지 >
폰트키우기 폰트줄이기 프린트하기 메일보내기 신고하기
트위터 페이스북 미투데이 요즘 네이버 구글 msn 뒤로가기 위로가기
이 기사에 대한 댓글 이야기 (0)
자동등록방지용 코드를 입력하세요!   
확인
- 200자까지 쓰실 수 있습니다. (현재 0 byte / 최대 400byte)
- 욕설등 인신공격성 글은 삭제 합니다. [운영원칙]
이 기사에 대한 댓글 이야기 (0)
Most Read
1
Goyang citizens join special event wishing big success of PyeongChang 2018 Winter Olympic Games
2
Korea image event successfully staged in Seoul on Jan. 16 with Angelina Danilova from Russia
3
Sharjah Ruler establishes Al Medayna Nature Reserve
4
Mohammed bin Rashid launches Marmoom Desert Conservation Reserve
5
Saudi Royal Air Defense Forces intercept, destroy ballistic missile fired towards Jazan
6
Dagupan continues dynamic growth in 2017
7
Beauty queen champions education, sustainable tourism
8
UAE Armed Forces destroy command and communication centre for Houthi militia
9
IoT Middle East 2018 to discuss new technologies and opportunities
10
Sri Lanka to Celebrate 70 Years of Independence with Food Festival at the Millennium Seoul Hilton.
Photo News Green Biz
DEWA organises workshop for 3rd Carbon Ambassadors Programme
DEWA organises workshop for 3rd Ca...
min
ADFD, IRENA open new round of funding for renewable energy projects in developing countries
ADFD, IRENA open new round of fund...
min
Dubai Municipality gears up for Clean Up The World campaign
Dubai Municipality gears up for Cl...
min
Climate change threatens agricultural trade in Pacific Rim economies, UN agency warns
Climate change threatens agricultu...
min
Environment and Protected Areas Authority in Sharjah highlights importance of protecting endangered species
Environment and Protected Areas Au...
min
Photo News Sports
2 Koreas to hold working-level talks this week on details of art troupe's trip
2 Koreas to hold working-level tal...
min
IOC hails N. Korean participation in PyeongChang Olympics
IOC hails N. Korean participation ...
min
S. Korea hopes to drive peace momentum beyond PyeongChang: FM
S. Korea hopes to drive peace mome...
min
PyeongChang Forum for Earth and its Citizens
PyeongChang Forum for Earth and it...
min
Yonhap opens photo exhibition in Tokyo to promote PyeongChang Winter Olympics
Yonhap opens photo exhibition in T...
min
Torch for PyeongChang 2018 tours athletes' training center
Torch for PyeongChang 2018 tours a...
min
S. Korea working closely with IOC for N. Korea's participation in PyeongChang Olympics: Cheong Wa Dae
S. Korea working closely with IOC ...
min
Hamdan bin Mohammed ratifies 3rd edition of Sports Events Ranking System
Hamdan bin Mohammed ratifies 3rd e...
min
Photo News World
2 Koreas to hold working-level talks this week on details of art troupe's trip
2 Koreas to hold working-level tal...
min
IOC hails N. Korean participation in PyeongChang Olympics
IOC hails N. Korean participation ...
min
S. Korea hopes to drive peace momentum beyond PyeongChang: FM
S. Korea hopes to drive peace mome...
min
PyeongChang Forum for Earth and its Citizens
PyeongChang Forum for Earth and it...
min
Yonhap opens photo exhibition in Tokyo to promote PyeongChang Winter Olympics
Yonhap opens photo exhibition in T...
min
Torch for PyeongChang 2018 tours athletes' training center
Torch for PyeongChang 2018 tours a...
min
S. Korea working closely with IOC for N. Korea's participation in PyeongChang Olympics: Cheong Wa Dae
S. Korea working closely with IOC ...
min
Hamdan bin Mohammed ratifies 3rd edition of Sports Events Ranking System
Hamdan bin Mohammed ratifies 3rd e...
min
Photo News Opinion
S. Korea's Navy chief to travel to U.S. for consultations
S. Korea's Navy chief to travel to...
min
5 killed in suspected arson attack in Seoul motel
5 killed in suspected arson attack...
min
Head of S. Korea's nuclear operator to quit amid anti-nuclear policy
Head of S. Korea's nuclear operato...
min
Chairman Kim, Jin Ho, the Korean Veterans Association, visited US troop in Yongsan Garrison and made donation
Chairman Kim, Jin Ho, the Korean V...
minah-kim
Ex-President Lee denounces prosecution probe as 'political retaliation'
Ex-President Lee denounces prosecu...
min
Moon urges increased efforts to reform gov't, increase transparency
Moon urges increased efforts to re...
min
Hwijae Lee named as Secretary General of Indian Chamber of Commerce Korea
Hwijae Lee named as Secretary Gene...
min
Alliance-based diplomacy on N. Korea crucial: U.S. senator
Alliance-based diplomacy on N. Kor...
min
Newspaper AboutNews ReportAdvertiseComplaintsPrivacy PolicyJuvenile protectionRejection of E-mail Collection
Gangnam-gu, Teheran 52 street in Tehran Bldg, 616(Yeoksam-dong)  |  Main Phone: 02) 563-0604  |  Fax: 02) 538-5665
Chairman : jeong-woo Lee  |  Advisor : byung-il Min  |  Publisher: jae-mo Kah  |  Editors: il-hong Kim
Registration Number 1928 Seoul ah  |  eseoulpost.com / eseoulpost.net / Global Korea.,Ltd
Copyright © 2011 eseoulpost. All rights reserved. mail to jaemokah@daum.com , kih10kr@empas.com/ www.globalkorea.info
arabafrica.net / UAE Interract / Emirtes News Agency(WAM)/ http://wam.org.ae / www.uaeinteract.com