Philippine Inflation Expected to Reach Approximately 3.2% in 2024, According to Finance Minister – Reuters

MANILA (Reuters) – The inflation rate in the Philippines is projected to stabilize at approximately 3.2% this year, according to the finance minister. This anticipated rate may allow the central bank to implement further interest rate cuts.

Finance Minister Ralph Recto emphasized that this situation provides the Bangko Sentral ng Pilipinas (BSP) with more leeway to adopt a more aggressive monetary easing policy, aimed at accelerating economic growth and assisting the government in enhancing its revenue collections.

As of September, the inflation rate was recorded at 1.9%, marking the slowest increase in over four years.