MANILA, Philippines—The Bangko Sentral ng Pilipinas (BSP) expected inflation rate to remain elevated in the third month of 2021 but held back by easing electricity rates and the effect of a cap on meat prices.
In a statement, the BSP said it expected prices of basic goods and services to accelerate from 4.2 to 5 percent in March which would be near the 4.7 percent consumer price index for February.
BSP Governor Benjamin Diokno said the decline in power rates charged by Manila Electric Co., lower prices of some food items and a cap on meat prices “are the main sources of downward price pressures during the month.”
“However, these factors could be partly offset by higher domesti…
Keep on reading: BSP crystal ball shows March inflation still high, but held back by cheaper power