Metro Manila (CNN Philippines, June 30) — The Bangko Sentral ng Pilipinas forecasts the prices of basic goods increased at a slower pace this June.
In a statement, the BSP said it expects a 4.3% inflation rate for June, resting within the 3.9-4.7% range.
While the projection is slower than the 4.5% rate in May, it is still above the government's 2-4% target band for inflation this year.
June inflation is expected to be driven upward by higher Meralco rates and the peso's slightly weaker performance, but "partially offset" by the fall in prices of key food items like rice, meat and fruits attributed to better supply conditions.
"Moving forward, the BSP will continue to monitor emerging price developments to ensure that its primary mandates of price stability conducive to balanced and sustainable economic growth is achieved," BSP said.
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