Metro Manila (CNN Philippines, March 31) — Inflation likely cooled in March from the prior month as lower prices have been recorded in some commodities, the Bangko Sentral ng Pilipinas (BSP) said Friday.
In its forecast, the central bank said the March inflation rate may settle within the range of 7.4% to 8.2%.The low end of the range is far slower than the 8.6% inflation rate posted in February.According to the BSP, there was a decline in prices of fuel, fruits and vegetables, as well as chicken and sugar, which could “ease price pressures during the month.Upward price pressures for the month are expected to emanate from higher electricity rates in Meralco-serviced areas as well as increased prices of other key food items, such as pork, fish, eggs, and rice,” it added.The BSP reiterated it “remains prepared to respond appropriately” to rising inflation.
