March 22, 2018 / 8:23 AM / a month ago

Philippine c.bank says inflation to stay within target in 2018, 2019

MANILA, March 22 (Reuters) - The Philippine central bank said it expects inflation to remain within its target for this year and next.

Using 2012 as base year, the central bank forecast inflation to average 3.9 percent in 2018 and 3.0 percent next year.

The Philippine statistics agency rebased the CPI calculation to 2012 from the current 2006 base-year and adjusted the weighting of some price groups in the consumer basket to track the changing path of consumption..

The central bank on Thursday left its benchmark interest rate unchanged at 3.0 percent, as expected. (Reporting by Neil Jerome Morales and Enrico dela Cruz; Editing by Himani Sarkar)

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