Daily News

Inflation hits 2-yr low; BSP seen to cut rates

Stable food prices, especially declining retail prices of rice, further eased inflation to a 2-year low of 2.4% in July, the government reported. The increase in prices of basic commodities last month matched the rate posted in July 2017. Last month’s headline inflation rate was also the lowest recorded since the 2.2% in December 2016. As such, market watchers are all but certain that the Bangko Sentral ng Pilipinas (BSP) or central bank will take advantage of the stable price environment to further cut interest rates tomorrow and give the local economy a growth boost.