MANILA: The Philippines' annual inflation rate will probably hold steady or even slow in September due to lower prices of selected food items, power and some oil products, the head of the central bank said on Friday.
Governor Amando Tetangco said the bank expected annual inflation in September to be anywhere between 4.1-4.9 percent.
The headline consumer price index rose 4.9 percent in August from a year earlier, matching the rate in July.
However, core inflation quickened to a 17-month high last month.
That prompted the central bank on Sept. 11 to raise both the key overnight rate and the rate on its short-term special deposit accounts by 25 basis points each.
"We will continue to closely monitor domestic price movements, as well as developments in the global financial markets," Tetangco said in a mobile text message to reporters.
"We will implement measures as needed to keep inflation expectations in check, in line with our commitment to deliver price stability," he added.
The central bank next meets to review policy on Oct. 23.
It has an inflation target of 3-5 percent this year and 2-4 percent next year.
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