MANILA: The Philippine central bank sees inflation staying low over the coming years even as economic growth picks up, its deputy governor Diwa Guinigundo said Thursday.
He forecast inflation to average 3.3 percent this year, rising to 4.0 percent next year and then dropping to 3.5 percent in 2015.
The average inflation rate in the first seven months of the year stood at 2.9 percent, giving enough leeway for prices to go up in the remaining months while still staying within official targets, Guinigundo said.
“A rise in economic growth should mean a rise in inflation but that is not so,” he told reporters.
AFP
