The Bangko Sentral ng Pilipinas (BSP) said the May inflation level could hit a low of 5.8 percent or a high of 6.6 percent, which is the actual consumer price index (CPI) last April. ManilaBulletin READ:
The Bangko Sentral ng Pilipinas said the May inflation level could hit a low of 5.8 percent or a high of 6.6 percent, which is the actual consumer price index last April.
But, the May CPI could fall below six percent due to downside factors. “The cumulative rollback in domestic petroleum prices as well as lower poultry and fish prices and electricity rates of various regional power distributors could lead to lower inflation in May,” the BSP added. BSP Governor Felipe M. Medalla said they could maintain a hold stance for two to three more Monetary Board policy meetings before taking further action. The implication is the pause will last until August or September this year.
At the moment, the BSP projects the 2023 inflation will average at 5.5 percent and 2.8 percent for 2024. This could change in the next policy meetings. Upside risks to inflation are: potential impact of additional transport fare hikes; minimum wage adjustments; higher domestic prices of key food items facing supply constraints; and the impact of El Niño weather conditions on food and electricity prices.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BSP sees May inflation slowing to 5.8-6.6%INFLATION could slow further in May due to lower fuel, electricity, fish, and poultry prices, the Bangko Sentral ng Pilipinas (BSP) said on Wednesday. READ HERE:
Read more »
Slower inflation seen to continue in May — BSPThe Bangko Sentral ng Pilipinas (BSP) expects the inflation rate to maintain its downward trend in May.
Read more »
BSP expects May inflation to cool down further to 5.8% or stay at 6.6%The Bangko Sentral ng Pilipinas (BSP) is expecting inflation to continue its downtrend in May or remain at the same level as the previous month amid lower fuel, food, and utility prices.
Read more »
Searca, BSP convene experts, partners for sustainable agri-food systems in SEA | BusinessMirrorMore than 100 experts and partners working in the agri-food sector gathered in a Roundtable Discussion Series on Sustainable Food and Agriculture Systems in Southeast Asia, jointly organized by the Southeast Asian Regional Center for Graduate Study and Research in Agriculture (Searca) and the Bangko Sentral ng Pilipinas (BSP), a…
Read more »
BSP sees inflation within target range by September | Jasper Y. ArcalasTHE Bangko Sentral ng Pilipinas (BSP) expects the country’s headline inflation to be within its target range as early as September, as the increase in prices of goods and services continues to ease. “Our forecast is that by September or October, the headline inflation on a year-on-year basis will be…
Read more »