Philippines keeps inflation target at 2%-4% through 2026

December 22, 2023 - 3:30 PM
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Here's how to spend money wisely amid inflation crisis. (Pixabay)

The Philippines central bank said on Thursday it has decided to retain its inflation target range of 2% to 4% through 2026, reiterating its readiness to tweak monetary policy to achieve targets.

The inflation target range remains an appropriate representation of the medium-term goal for price stability, the central bank said in a statement.

“The current and projected inflation environment continues to support the steady growth of the economy,” it said

The prevailing higher-for-longer policy stance, plus non-monetary measures by the government, aim for a sustained return of inflation to the medium-term target and keep inflation expectations anchored, the central bank said.

Philippine inflation eased to 4.1% in November, bringing the year-to-date figure to 6.2%, still above the central bank’s target range of 2% to 4% for 2023.

— Reporting by Neil Jerome Morales; Editing by Kanupriya Kapoor