Inflation expected to increase over the next few months: Central bank.

By bne IntelliNews June 22, 2010
Bangko Sentral ng Pilipinas (BSP) expects inflation to accelerate over the next few months but said that it would not make an upward adjustment to the inflation projection made earlier. As reported by Manila Times, BSP Deputy Governor Diwa Guinigundo said that the apex bank expect prices to increase due to the recent adjustment in minimum wages and rise in commodity prices. On May 28, the Wage Board approved a PHP 22 increase in the daily minimum wage for workers in the National Capital Region. On June 3, the baseline inflation forecast was revised to 4.7% for this year from the earlier estimate of 5.1%.

Inflation expected to increase over the next few months: Central bank.

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