Metro Manila, Philippines – The Bangko Sentral ng Pilipinas (BSP) said it sees the rate of price increases to “remain low” in April.
The central bank forecast range is 1.3 percent to 2.1 percent.
“Easing prices of rice, fish, fruits, and vegetables, favorable domestic supply conditions along with lower oil prices and the peso appreciation contributed to the downward price pressures for the month,” the central bank said on Wednesday, April 30.
“These could be offset in part by the higher electricity rates and LRT-1 fares,” it added.
March inflation stood at 1.8 percent, which was a near five-year low.
“Going forward, the Monetary Board will continue to take a measured approach in adjusting the monetary policy stance in line with its price stability objectives conducive to balanced and sustainable growth of the economy and employment,” the BSP said.
