BSP: Oil and higher ‘sin’ affects inflation in 2020

Photo Credits: CNN Philippines

Potential transport fare hikes, higher ‘sin’ taxes, and crude prices may have a negative effect on inflation which is most likely to reach 3 percent this year.

“The volatility in global crude oil prices, petitions for electricity rates and transport fare adjustments, the proposed increase in the excise taxes of alcoholic beverages, and the impact of ASF (African siwine fever) on meat prices are the main upside risks to inflation,” said Bangko Sentral ng Pilipinas (BSP).

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