THE Bangko Sentral ng Pilipinas (BSP) projects the May 2021 inflation to settle within the range of 4.0–4.8 percent.
Higher prices of meat and domestic petroleum products along with the upward adjustment in Meralco electricity rates are the main sources of upward price pressures for the month.
According to the BSP, these could be offset by the decline in prices of key food items, such as rice, vegetables and fish, due to improved supply conditions, along with the appreciation of the peso.
Moving forward, the BSP said it will remain watchful of economic and financial developments to ensure that the monetary policy stance remains consistent with the BSP’s price stability mandate. (PR)