BSP: Inflation likely eased below 7% in April

MANILA  -The Bangko Sentral ng Pilipinas said inflation in April may have settled within the range of 6.3 percent to 7.1 percent, suggesting that the readout is more likely lower than 7 percent.

Lower prices of electricity, fish and vegetables, and cooking gas or LPG are expected to have helped ease inflation from 7.6 percent in March.

On the other hand, higher prices of other fuels as well as rice and meat, and also the depreciation of the Philippine peso are seen to have helped keep inflation high.

The BSP said it “remains prepared to respond appropriately” to continuing risks on inflation as it makes monetary policy decisions based on data or actual developments.