BSP projects May inflation at 7.1% to 7.9% amid food, forex pressures

BSP projects May inflation at 7.1% to 7.9%

THE country’s headline inflation could reach 7.1 percent to 7.9 percent in May due to price increases in key food commodities and the weakening of the peso against the US dollar, the Bangko Sentral ng Pilipinas (BSP) said on Saturday.In a statement, the BSP said the higher prices of rice, vegetables and meat contributed to the upside risks to inflation during the month.The central bank said that a weaker local currency also added to inflationary…

BSP sees May inflation at 7.1%-7.9% on food, peso pressures

MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) said Saturday that headline inflation in May could settle between 7.1 percent and 7.9 percent, driven by higher prices of key food commodities and the depreciation of the peso. In a month-ahead inflation forecast, the central bank said rising prices of rice, vegetables, and meat were

BSP projects May inflation at 7.1% to 7.9% amid food, forex pressures

The Bangko Sentral ng Pilipinas said that headline inflation in May could range from 7.1% to 7.9% as higher food prices and peso depreciation continue to weigh on consumer costs.