philippine inflation forecast 2011

philippine inflation forecast 2011 - philippine inflation prediction 2011 ; British banking giant Hong Kong and Shanghai Banking Corp. (HSBC) lowered its inflation forecast for the Philipines to five percent from 5.4 percent this year.

Inflation kicked up to a 13-month high of 4.5 percent in May from the revised 4.3 percent in April as core inflation — which excludes the volatile food and fuel items — rose to 3.7 percent from the revised 3.3 percent. This brought the average inflation in the first five months of the year to 4.2 percent from a year ago level of 4.3 percent.

Chan said HSBC lowered its inflation forecast to 4.6 percent from 5.2 percent in the second quarter, to 5.6 percent from 6.2 percent in the third; and to 5.7 percent from 5.9 percent in the fourth quarter due to the lower-than-expected inflation last month. “The inflation picture in the Philippines has been less worrying than expected,” the economist added.

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