BSP Sees Inflation Around 4.6% in March

The Bangko Sentral ng Pilipinas (BSP) projected the Philippines inflation between 4.2 to 5%, with the point of inflation at 4.6%.

This projection is lower compared to the previous 4.7% inflation rate last February.

BSP Governor Benjamin Diokno said the among the factors affecting this month’s inflation rate projection:

• lower power rates in areas serviced by Manila Electric Company (Meralco),
• lower prices of key food items due to supply conditions and the continued implementation of price caps on meat products
• the increase in oil prices
• the weakening of the peso

Meanwhile, the inflation rate is increasing since last year due to the lack of meat supply due to the African Swine Fever (ASF) and the surge of oil prices in the international market.

Experts said that the uptick in the inflation rate will continue until the third quarter this year. (ASC)