Declining food and non-food prices have pushed inflation to below the targeted band, the central bank noted on Friday, supporting last month’s decision to keep policy rates steady.
The rise in consumer prices slowed to 0.6 percent in the third quarter, the Bangko Sentral ng Pilipinas (BSP) said in its latest quarterly inflation report. This brought the year-to-date increase to an average of 1.6 percent, or below the 2 percent to 4 percent target.
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