Philippine inflation likely eased below 8% in March, says BSP

The Bangko Sentral ng Pilipinas says the inflation rate in March may have settled within the range of 7.4 percent to 8.2 percent, suggesting the possibility of posting lower than 8 percent. Downward price pressures for March are expected to have come from lower prices of petroleum products, fruits and vegetables, chicken, and sugar. On the other hand, possibly helping keep the monthly average inflation high are rising electricity rates in Meralco-serviced areas as well as other key food items like pork, fish, eggs, and rice. 'The BSP remains prepared to respond appropriately to continuing inflation risks in line with its data-dependent approach to monetary policy formulation,' the regulator said.

Source: Philippines News Agency