BSP sees March inflation at 1.7% to 2.5%

MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) on Monday said it expects inflation in March to settle between 1.7 and 2.5 percent, with higher electricity rates and rising prices of fish and meat putting upward pressure on consumer prices.

Despite these cost increases, the country’s central bank said inflationary pressures would likely be tempered by declining prices of rice, fruits, and vegetables, supported by improved domestic supply conditions and the recent appreciation of the peso.

“The Monetary Board will continue to take a measured approach in ensuring price stability conducive to balanced and sustainable growth of the economy and employment,” the BSP said in a statement.

Inflation cooled more than anticipated in February, hitting a five-month low as costs for food, utilities, and transportation declined.