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Monday, April 21, 2014

PH economic managers retain 2014-2016 inflation targets

Philippine economic managers have decided to keep the inflation targets for 2014 to 2016 in line with the country's growth prospects.

In a statement, the Bangko Sentral ng Pilipinas (BSP) said the inter-agency Development and Budget Coordinating Committee (DBCC) sees the inflation target of 3-5 percent for 2014 as appropriate, based on the current inflation developments, evolving economic and financial trends as well as indicators of the public’s inflation expectations and emerging forecasts.

At end-March, inflation averaged 4.1 percent.

The country’s gross domestic product (GDP) is seen to grow between 6.5-7.5 percent this year from 7.2 percent last year.

The BSP’s inflation target of 2-4 percent for 2015 and 2016 also remains, consistent with the country’s current inflation dynamics and outlook for the next couple of years and the expected higher potential capacity under a low inflation environment.

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