Lawrence Agcaoili (The Philippine Star) – August 15, 2021 – 12:00am

MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is closely monitoring global commodity prices as it expects inflation to breach the government’s two to four percent target for 2021.

BSP Governor Benjamin Diokno said the Philippines is affected by significant fluctuations in global commodity prices.

“Given the relative importance of food and energy items in the consumer price index basket, the developments in these sectors, including their prices in the global markets, are important considerations in the formulation of monetary policy at the BSP,” Diokno said.

Diokno also said the BSP is   careful to assess and monitor potential signs of second round effects, particularly changes in inflation expectations, arising from increasing food and…

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