BSP Sees June Inflation Settling at 1.1-1.9%

The Bangko Sentral ng Pilipinas (BSP) expects inflation in June to remain well below target, with its month-ahead forecast range set at 1.1 to 1.9 percent, indicating continued benign price pressures despite some upticks in key commodity groups.

- By KEISHA TA-ASAN

In a statement yesterday, the BSP said upward price pressures for the month likely came from more expensive meat and vegetables, elevated global oil prices and a weaker peso.

"These pressures, however, could be partially offset by lower prices of rice, fish and fruits, as well as lower electricity rates," the central bank said.

Looking ahead, the BSP said it remains committed to safeguarding price stability by ensuring that monetary policy settings are conducive to sustainable economic growth and employment.

The Philippine Statistics Authority will release the June inflation data on July 4.