Higher inflation rate likely in February

MANILA, Philippines  -The Bangko Sentral ng Pilipinas says inflation in February 2023 may have registered within the range of 8.5 percent to 9.3 percent, suggesting the possibility of posting higher than January’s 8.7 percent.

Upward price pressures for February are expected to have come from higher LPG prices as well as higher prices of key food items like pork, fish, egg, and sugar.

On the other hand, possibly helping lower the monthly average inflation are lower prices for domestic petroleum, fruits and vegetables, chicken, and beef, along with the peso appreciation.

“The BSP will continue to adjust its monetary policy stance as necessary to prevent the further broadening of price pressures as well as the emergence of additional second order effects,” the regulator said.