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Inflation at 6.2 percent for third quarter of 2018: BSP

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ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="https://sa.kapamilya.com/absnews/abscbnnews/media/2018/news/10/19/20180928-public-market-gc-4102.jpg"/><figcaption>Consumers and workers at the La Huerta Public Market in Paranaque City on September 28, 2018. George Calvelo, ABS-CBN News</figcaption></figure></div>MANILA - Inflation for the third quarter averaged at 6.2 percent, data from the Bangko Sentral ng Pilipinas (BSP) released Friday showed, citing supply-side pressures.The third quarter average is higher compared to the 4.8 percent in the previous quarter, bringing the year-to-date average to 5 percent, BSP Officer in Charge Maria Almasara Tuano-Amador said in a press briefing.Consumer prices <a href="https://news.abs-cbn.com/business/10/05/18/inflation-at-67-percent-in-september" target="_blank">rose</a> 6.7 percent in September, slightly below forecasts, according to the Philippine Statistics Authority.The BSP hiked its benchmark borrowing rate for 4 straight policy meetings this year to address inflation, bringing it to 4.5 percent from 3 percent. It also raised its inflation outlook this year to 5.2 percent and 2019 to 4.3 percent.Inter-agency Development Budget Coordination Committee (DBCC) in its medium-term macroeconomic assumptions released last Oct. 16, also revised its inflation outlook for 2018 to 4.8 to 5.2 percent from 4 percent to 4.5 percent.<ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/09/27/18/bangko-sentral-revises-inflation-outlook-for-2019-2020">Bangko Sentral revises inflation outlook for 2018, 2019</a></li>	<li><a href="https://news.abs-cbn.com/business/10/16/18/govt-revises-ph-growth-target-cites-worldwide-uncertainties">Gov&#x27;t revises PH growth target, cites worldwide &#x27;uncertainties&#x27;</a></li></ul>The government said it has placed measures to address inflation.Prices of some basic goods will not be increased for at least 3 months, after the government appealed to manufacturers, the Department of Trade and Industry said in September.​Once enacted into law, the rice tarrification bill is also expected to bring down the prices of rice, Budget Secretary Benjamin Diokno earlier said.The BSP said inflation could &quot;revert quickly&quot; back to the target range as monetary and non-monetary policy measures kick in.&quot;The Banko Sentral believes that it has sent a firm signal of its commitment to combat inflation and safeguard price stability,&quot; Tuaño-Amador said.&quot;Again, we will continue to be very watchful for all developments that affect the inflation outlook so that systematic policy responses can be considered if needed to keep inflation within target,&quot; she added.<ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/09/12/18/price-hikes-on-basic-goods-on-hold-for-at-least-3-months-dti">Price hikes on basic goods on hold for at least 3 months: DTI</a></li></ul><div> </div>

Inflation for the third quarter rose to 6.2 percent, data from the Bangko Sentral ng Pilipinas (BSP) released Friday showed, citing supply-side pressures.

Inflation for the third quarter rose to 6.2 percent, data from the Bangko Sentral ng Pilipinas (BSP) released Friday showed, citing supply-side pressures.