Salceda: Oct inflation allows BSP room for easing

Albay Rep. and House Ways and Means Committee Chairman Joey Salceda said that despite inflation rising to 2.3 percent in October from 1.9 percent in September, the average inflation of 3.3 percent for January-October remains within target, giving “the BSP license for further rate cuts, especially with expected OFW remittances this December providing room on the currency side.” He also noted that the subdued inflation is proof of the wisdom behind President Ferdinand Marcos Jr.’s decision to substantially cut the rice tariff in July.