Metro Manila (CNN Philippines, July 31) — The country’s consumer price growth is seen to further ease in July, the Bangko Sentral ng Pilipinas (BSP) said on Monday.
In a statement, the central bank said the July inflation rate may settle within the range of 4.1% to 4.9%, a drop from 5.4% in June.
It said the declining rate may be due to lower power rates, and cheaper LPG, meat, fruits, and fish.
On the other hand, higher prices of rice, vegetables, and fuel products still put upward price pressures for the month.
“Going forward, the BSP will continue to monitor developments affecting the outlook for inflation and growth in line with its data-dependent approach to monetary policy formulation,” it said.
The Philippine Statistics Authority is set to release the latest inflation print data later this week.
