• BSP estimates March inflation within target 2.1%-2.9%

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    The central bank expects headline inflation in March to stay within its target range of 2.1 percent to 2.9 percent, reflecting lower utility rates, oil, transport and food prices.

    Official inflation data will be released by the Philippine Statistics Authority on April 7.

    “Reductions in electric power rates, local oil pump prices and taxi fare, as well as the continued easing of rice prices indicate downside inflation pressures for March,” Bangko Sentral ng Pilipinas (BSP) Governor Amando Tetangco Jr. said in a text message to reporters on Wednesday.

    In February, headline inflation picked up pace to 2.5 percent from 2.4 percent in January, although it eased from 4.1 percent recorded a year earlier.

    Tetangco said the central bank will continue to monitor developments that could affect inflation in line with the BSP’s commitment to price stability conducive to a balanced and sustained economic growth.

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