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Philippines: Inflation to stay around midpoint of '11 target amid materialization of upside risks --Tetangco.
Section: General News - The Bangko Sentral ng Pilipinas (BSP) believes that the average rate of price increases this year would remain below the midpoint of the three to five percent target even as upside risks turn up.
In a briefing at Malacanang Friday, BSP Governor Amando Tetangco Jr. said they see inflation to average at 3.6 percent this year, lower than the 3.8 percent actual average in 2010.
He explained that their average forecast already included the possible hikes in toll fees and oil and rice prices, among other factors.
He stressed that if these upside risks materialize, then inflation would average around 3.8-4.2 percent.
It's still …
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