May inflation to settle within range of 5% to 5.8%

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THE Bangko Sentral ng Pilipinas has projected May 2022 inflation to settle within the range of five to 5.8 percent.

“The continued increase in domestic petroleum prices, higher prices of key food items, and peso depreciation are the primary sources of inflationary pressures during the month,” the BSP said Tuesday,

May 31, 2022.

But the central bank noted that it could be offset in part by lower electricity rates in Meralco-serviced areas, the decline in LPG prices, and lower rice prices.

“Looking ahead, the BSP will continue to monitor closely emerging price developments to enable timely intervention to arrest emergence of further second-round effects, consistent with BSP’s mandate of price and financial stability,” the bank said.

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