INFLATION is expected to settle firmly within target amid the improving economic outlook with the Bangko Sentral ng Pilipinas (BSP) in August revising its risk-adjusted forecasts to 3.3 percent for this year and 2.9 percent for 2025.

The 2024 projection is up from 3.1 percent in June while that for next was cut from 3.1 percent previously. Both, however, fall within the 2.0- to 4.0-percent goal, and the BSP said this would be due to base effects following the sharp price surges in oil and rice seen late in 2023.

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