BSP predicts Philippines' May inflation at 3.7-4.5%, exceeding the 2-4% target, due to rising electricity and vegetable prices.
The Bangko Sentral ng Pilipinas (BSP) predicts that Philippines' inflation in May may reach between 3.7% to 4.5%, due to rising electricity and vegetable prices. This could breach the government's target range of 2% to 4%. The BSP held its policy rate steady at 6.50% and will review it on June 27. The April inflation was recorded at 3.8%, marking the third consecutive month of price increases.
May 31, 2024
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