MANILA, Philippines — The Philippine central bank expects the pace of price increases in the local economy to have moderated slightly in June, thanks to cheaper food items that have been the source of inflation in recent months.
In a statement, the Bangko Sentral ng Pilipinas (BSP) said its economists expect the inflation rate for the sixth month of the year to settle within the 3.9-4.7 percent range, with a median inflation estimate of 4.3 percent.
“Higher prices of domestic petroleum products along with the upward adjustment in Meralco electricity rates and a slightly weaker peso are the main sources of upward price pressures for the month,” the monetary regulator said.
“The…
Keep on reading: BSP sees June inflation easing slightly as food prices settle slowly