BSP: Inflation slowed down yet again in June | Inquirer Business

BSP: Inflation slowed down yet again in June

MANILA  -The rate of growth in prices of goods and services commonly purchased by households may have slowed down yet again in June to somewhere in the range of 5.3 percent to 6.1 percent, according to the Bangko Sentral ng Pilipinas.

The midpoint of the forecast range — 5.7 percent — suggests that the BSP expects inflation to have eased from 6.1 percent in May and for the fifth month in a row since 8.7 percent in January.

Article continues after this advertisement

PH inflation rate for May 2023 slows down further to 6.1%

FEATURED STORIES

The Philippine Statistics Authority will announce the official readout on July 7.

“The lower prices of meat and fruits as well as the rollback in LPG prices could contribute to downward price pressures during the month,” the BSP said in a statement.

Article continues after this advertisement

However, higher prices of key food items, such as rice, vegetables, and fish, along with the increase of domestic oil prices and electricity rates as well as the depreciation of the peso are the primary sources of upward price pressures in June.

Article continues after this advertisement

The BSP’s goal is to keep inflation at 3 percent, or within the range of 2 percent to 4 percent.

Article continues after this advertisement

READ:

DBCC hikes 2023 inflation projection to 5-7%

Growth forecast hiked as inflation risk lingers

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

TAGS: Bangko Sentral ng Pilipinas, Inflation, LPG, meat prices

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our newsletter!

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

© Copyright 1997-2024 INQUIRER.net | All Rights Reserved

This is an information message

We use cookies to enhance your experience. By continuing, you agree to our use of cookies. Learn more here.