PH inflation could fall in March — BSP
MANILA PHILIPPINES — The Bangko Sentral ng Pilipinas (BSP) expects inflation to slow in March after a drop in fuel and food prices.
In a statement, the BSP said consumer price growth likely decelerated to a range of 7.4 to 8.2 per cent.
“The recent rollback in domestic petroleum prices, lower prices of fruits and vegetables, as well as the decline in chicken and sugar prices, are expected to contribute to easing price pressures during the month,” the BSP explained.
Inflation earlier eased to 8.6 per cent in February, following a 14-year high of 8.7 per cent in January.
This month, the BSP still raised key interest rates by 25 basis points (bps), in a bid to anchor inflation expectations and achieve a return to the 2.0- to 4.0-per cent inflation target.
The Philippine Statistics Authority March inflation figures are scheduled to be released on April 5.
