BSP expects April inflation at 3%-3.8%

Headline inflation may settle at as low as 3 percent or as high as 3.8 percent in April, the central bank said, broadening its forecast range from the 3.4 percent posted in March to factor in higher utility rates and oil prices, as well as lower cooking gas prices and a stronger peso.

The central bank’s April estimate indicates a big jump from 1.1 percent a year earlier. The 3.4 percent rate in March this year marked the fastest rise in prices since November 2014, when the rate hit 3.7 percent.