Most analysts expect higher April inflation

Consumer price growth likely picked up in April as base effects faded and utility costs rose, according to a poll of economists.

- By KEISHA TA-ASAN

Six out of 10 expect inflation to have risen last month amid higher electricity rates and fading base effects.

Forecasts ranged from 1.6 to 2.1 percent, with a median of 1.9 percent, indicating that inflation could rise from 1.8 percent in March. However, the figures remain well below the Bangko Sentral ng Pilipinas (BSP)'s target ceiling of four percent.

Pantheon Macroeconomics chief emerging Asia economist Miguel Chanco gave the highest forecast at 2.1 percent, citing a rebound in food inflation supported by base effects.

"Some of this lift should be offset by a sharper transport deflation," Chanco said, adding that "as long as inflation remains this muted, the Monetary Board will continue to be more open to additional rate cuts."