ASEAN KEY DESTINATIONS
Philippine economists lower
Citing its third-quarter survey of private economists conducted in September, the BSP said the mean inflation forecasts for 2010 and 2011 were lower at 4 percent and 4.1 percent, respectively, from the second-quarter survey's 4.5 percent and 4.8 percent.
Similarly, the average inflation forecast for 2012 was lower at 4.5 percent, from the previous quarter's estimate of 5.3 percent.
Polled analysts said the fragile global economic recovery as well as the strong peso would temper inflationary pressures in the remaining months of the year, even as the onset of La Nina could lead to higher prices of agriculture products.
Citing six respondents-Asia ING, ATR KimEng, Deutsche Bank, Hongkong Shanghai Banking Corp., Institute for Development and Econometric Analysis Inc., Metropolitan Bank and Trust Co., Rizal Commercial Banking Corp., and Philippine Equity Partners Inc.-said average inflation would have a 54.3-percent chance of lying within the 3.1 percent to 4 percent range this year, or well-within the 3.5 percent to 5.5 percent target range of the BSP.
ATR KimEng gave the highest inflation forecast for this year and the next two years at 4.3 percent, 4.9 percent and 5.5 percent, respectively.
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