Economists’ 2017 inflation forecasts in line with BSP target

ECONOMISTS from the private sector expect the average inflation rate will settle within the 2 percent- to-4 percent government target this year, the Bangko Sentral ng Pilipinas (BSP) said in a recently released survey.

Surveyed last December 2016, the economists cited a weaker peso, higher global oil prices, robust domestic demand and higher probability of further Fed rate hikes for their mean inflation forecast of 3 percent from 2.7 percent, the BSP noted in its Fourth Quarter Inflation Report released Friday.