Philippine inflation likely remained low in April — BSP

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MANILA, Philippines — Inflation likely remained benign in April due to lower prices of key food items and oil, the Bangko Sentral ng Pilipinas (BSP) said.

In a statement, the BSP said inflation was expected to have settled within the range of 1.3 percent to 2.1 percent this month.

READ: Philippine inflation slowed to 1.8% in March, a near 5-year low

“Easing prices of rice, fish, fruits, and vegetables, favorable domestic supply conditions along with lower oil prices and the peso appreciation contributed to the downward price pressures for the month,” the central bank said.

“These could be offset in part by the higher electricity rates and LRT-1 fares,” it added.

READ: LRT-1 fare hike approved, to take effect April 2