BSP: Inflation may go lower in February
Prices are finally going down.
The central bank is growing more confident that inflation may sustain its decline.
The BSP Department of Economic Research announced on Thursday, Feb. 28 that inflation for the month will likely be within the 3.7 – 4.5 percent range.
“Higher domestic oil prices and the upward adjustment in electricity rates provided upside price pressures to inflation during the month,” they said.
“These may be partly offset by lower prices of rice and other agricultural commodities given the appreciation of the peso and ample supply particularly of rice following the recent harvest and arrival of rice imports.”
The inflation target is set at 2-4 percent.