INCREASED PRICES of rice, fish and fuel and better electricity rates can have pushed up inflation in February, the Bangko Sentral ng Pilipinas (BSP) said on Friday.
Based on the central bank’s month-ahead forecast, the patron price index likely accelerated to between 2.3% and three.1% this month.
If realized, this might be faster than the two% print in January and the two.1% clip recorded in the identical month last yr
It will also mark the second straight month that inflation settled inside the BSP’s 2%-4% goal.
“Upward price pressures could stem from higher prices of rice and fish, elevated domestic petroleum prices, and increased electricity charges in Meralco (Manila Electric Co.)-serviced areas,” the BSP said.
“These pressures, nevertheless, could also be partly offset by lower prices of vegetables, fruits, and meat, in addition to peso appreciation.” — Katherine K. Chan