Inflation slowed down further in May: Philippine central bank

The midpoint of the forecast range — 6.2 per cent — suggests that the authorities expects inflation to have eased further from the 6.6 per cent print in April.

Ronnel W. Domingo

Ronnel W. Domingo

Philippine Daily Inquirer


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.

Philippine inflation eased further to 6.6% 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.

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