MANILA, Philippines (Xinhua) - Disruption in the supply of food and other commodities caused by typhoon Haiyan could push inflation to an average of 3.2 percent this year, higher than 2.8 percent in January to October period, the Philippine central bank said today.
Bangko Sentral ng Pilipinas (BSP) deputy governor Diwa C. Gunigundo said the price of consumer goods and other commodities could increase by 4.5 percent in 2014, higher than the previous forecast of 4 percent.
"We will continue to monitor prices until the last Monetary Board meeting on monetary policy in December," Gunigundo said.
The projected inflation for 2013 and 2014, however, is still within the Philippine central bank's target of 3 to 5 percent.
The central bank's benchmark overnight borrowing is currently at 3.5 percent while lending rate stands at 5.5 percent.