Metro Manila (CNN Philippines, April 28) — Prices of goods and services in the Philippines are seen to cool down in April, the Bangko Sentral ng Pilipinas (BSP) said.
In a statement on Friday, the central bank said it sees inflation settling within the range of 6.3% to 7.1%, slower than the 7.6% recorded in March.The BSP’s forecast came amid the slash in prices of power, fish and vegetables, and LPG, a development which it said could “ease price pressures during the month.Meanwhile, upward price pressures are expected to emanate from higher domestic petroleum prices, increased rice and meat prices, and peso depreciation,” it said.The BSP maintained that it is prepared to “respond appropriately” to high inflation.The national government has kept its inflation target at 2% to 4% this year.
