POWER rate hikes, costlier vegetables and a weaker peso could have led to higher inflation in May, the Bangko Sentral ng Pilipinas (BSP) said on Friday.
POWER rate hikes, costlier vegetables and a weaker peso could have led to higher inflation in May , the Bangko Sentral ng Pilipinas said on Friday.The 3.7- to 4.5-percent estimate released by the central bank still includes the possibility of an easing from April's 3.8 percent, but is skewed toward a breach of the BSP 's 2.0- to 4.0-percent target.Data for May will be released by the Philippine Statistics Authority on Wednesday next week.A result higher than 4.
'BSP Governor Eli Remolona Jr. on Monday said that monetary authorities were now beginning to tame inflation, which is expected to peak in May and eventually decline in the following months.While the price growth outlook remains tilted toward the upside, the BSP's policymaking Monetary Board last month lowered its risk-adjusted forecast to 3.8 percent from 4.0 percent.Remolona has said that interest rate cuts could start as early as August, with two likely for the year.
Inflation Could Spike To 4.5% BSP
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