In a commentary, BPI lead economist Jun Neri said that inflation is likely to slow down in September before picking up again in November as favorable base effects fade, but still within the two to four percent target.
"Taking into account the latest data, we expect inflation to go down further to 2.5 percent in September, as the improvement in rice supply will likely continue to pull down the headline print," he said.
If realized, the September inflation will mark the slowest print in nearly four years or since the 2.3 percent in October 2020.
Inflation sharply slowed to 3.3 percent in August from 4.4 percent in July, the lowest in seven months.
From January to August, inflation averaged 3.6 percent.
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