BSP sees April inflation “within 3.9-4.7% range”

April 30, 2018

The Bangko Sentral ng Pilipinas (BSP) forecast April inflation to "settle within the 3.9-4.7 percent range", which means that the consumer price index could increase for the fourth straight month when the data is announced next week.

The BSP's Department of Economic Research said on Monday their forecast "represents a slight upward revision."

March inflation using the new 2012 base was at 4.3 percent from 3.8 percent on February.

"Geopolitical tensions in the Middle East caused a sharp rise in international oil prices spilling over to higher domestic petroleum prices for the month," said the Department of Economic Research.

"Higher electricity rates in Meralco-serviced areas as well as higher rice prices due to supply conditions could contribute to additional price pressures," it added.

It said the central bank "will continue to monitor closely evolving inflation dynamics over the policy horizon against any signs of incipient price increases that may warrant a policy response." DMS