June 2, 2023
MANILA – The Bangko Sentral ng Pilipinas said inflation in May might be within the range of 5.8 percent to 6.6 percent, most likely receding for the fourth month in a row.
The midpoint of forecast range — 6.2 percent — suggests that the BSP expects inflation to have eased further from the 6.6 percent print in April.
The Philippine Statistics Authority will announce the official readout on June 6.
“The cumulative rollback in domestic petroleum prices as well as lower poultry and fish prices and electricity rates of various regional power distributors could lead to lower inflation in May,” the BSP said.
On the other hand, higher prices of rice, vegetables, and other key food items as well as the increase in LPG and Meralco electricity rates are the primary sources of upward price pressures for the month.