DA chief: No rice price hikes in Sept.

Agriculture Secretary Francisco Tiu Laurel is casting doubt on the Bangko Sentral ng Pilipinas' (BSP) projection that inflation likely quickened in September partly due to higher rice prices, maintaining that retail prices of the staple remain stable.

- By DEXTER BARRO II

The BSP estimated that last month's inflation rate may settle within the range of 1.5 percent to 2.3 percent, quicker than the 1.5 percent in August.

"Upward price pressures for the month are likely to arise from higher prices of rice and fish. Elevated domestic fuel costs likewise contribute to upside price pressures for the month," the BSP said.

"These pressures could be partially offset by the decline in vegetables and meat prices along with lower electricity rates," it added.