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BSP slightly raises inflation outlook amid rising fuel prices and delays in pork imports

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Warren de Guzman, ABS-CBN News

<p>MANILA - The Bangko Sentral ng Pilipinas slightly raised its inflation outlook for 2021 due to rising fuel prices and concerns over the delays in the arrival of imported pork.</p><p>The BSP now forecasts inflation to average 4.1 percent this year, up from a previous forecast of 4 percent. </p><p>Inflation is also seen slightly higher at 3.1 percent in 2022 and 2023, from a previous forecast of 3 percent. </p><p>BSP Governor Benjamin Diokno said the latest inflation forecasts have shifted marginally higher, reflecting the recent increase in global commodity prices and the depreciation of the peso. </p><p>BSP Deputy Governor Francisco Dakila says aside from rising global fuel prices, there are also concerns regarding the arrival of imported pork meat, to deal with the African Swine Fever outbreak’s impact on local pork supply.</p><p>Diokno meanwhile said the reimposition of quarantine measures to arrest the recent wave of COVID-19 infections could pose a risk to the ongoing economic recovery. </p><p>He said the government needs to speed up its vaccination program which &quot;will be crucial in safeguarding public health and preventing deeper negative effects on the Philippine economy.”</p><p>The BSP kept interest rates steady on Thursday. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/08/12/21/bangko-sentral-keeps-interest-rates-steady">Bangko Sentral keeps interest rates steady to support growth</a></li>	<li><a href="https://news.abs-cbn.com/business/08/05/21/dissecting-data-inflation-eases-in-july-but-not-for-poor">Dissecting Data: Inflation eases in July but not for the poor</a></li></ul><div><strong>RELATED VIDEO</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=1746352" width="100%"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div>

The BSP slightly raised its inflation outlook for 2021 due to rising fuel prices and concerns over the delays in the arrival of imported pork.

BSP slightly raises inflation outlook amid rising fuel prices and delays in pork imports

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BSP slightly raises inflation outlook amid rising fuel prices and delays in pork imports

Warren de Guzman,

ABS-CBN News

Published Aug 12, 2021 07:18 PM PHT

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Bangko Sentral

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