BSP chief: Inflation peaked in July, 25-bps rate cut in Aug possible

Philippine inflation could peak in July, even if it breached the two to four percent target, as the headline rate is poised to slow down for the rest of 2024, according to Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr.

- KEISHA TA-ASAN

During the general membership meeting of the Consular Corps of the Philippines, Remolona said that there could be a “small jump” in July inflation mainly due to positive base effects.

“(But) based on our projections, inflation will peak in July,” he told reporters, adding that the impact from the Super Typhoon Carina on prices will not affect the July numbers.

“Usually, the effects come with a lag so (the impact from the typhoon) may not even affect August in terms of the aggregate consumer price index (CPI) basket,” he said.