The Bangko Sentral ng Pilipinas (BSP) has predicted that the inflation rate for the month of December 2020 will have decreased. This is due to the continued easing of food prices and the stable prices of oil in the global market.
According to the BSP, the inflation rate for December is expected to be between 2.4% to 3.2%, which is lower than the 3.3% recorded in November. This is good news for the Philippine economy, as it shows that the government’s efforts to control inflation are working.
One of the main factors contributing to the decrease in inflation is the easing of food prices. The price of rice, which is a staple food in the Philippines, has been stable in recent months. This is due to the government’s efforts to increase the supply of rice in the market and to control the prices of imported rice.
In addition, the prices of other food items such as vegetables, fruits, and meat have also been stable. This is due to the increased supply of these items in the market, as well as the government’s efforts to control the prices of these items.
Another factor contributing to the decrease in inflation is the stable prices of oil in the global market. The price of oil has been stable in recent months, which has helped to keep the prices of goods and services in the Philippines stable as well.
Overall, the BSP’s prediction of a decrease in inflation for December is good news for the Philippine economy. It shows that the government’s efforts to control inflation are working, and that the economy is on the right track. With stable prices and a controlled inflation rate, the Philippines can continue to grow and prosper in the coming years.