BSP pegs June inflation at 1.1-1.9%

Bangko Sentral ng Pilipinas. (File photo / Philippine Daily Inquirer)

MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) said inflation may have settled between 1.1 and 1.9 percent in June due to the impact of higher oil prices and the peso’s weakness.

“Upward price pressures for the month are likely to be driven by higher meat and vegetable prices, elevated oil prices, and the depreciation of the peso,” the BSP said in a statement on Monday.

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“These pressures, however, could be partially offset by lower prices of rice, fish, and fruits, as well as lower electricity rates,” it added.