• June inflation likely at 2%-2.9%

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    Inflation this month likely settled below the 3-percent to 5-percent full-year target, according to the Bangko Sentral ng Pilipinas (BSP).

    In a text message on Thursday, BSP Governor Amando Tetangco Jr. said that June inflation rate could be within 2 percent to 2.9 percent.

    Tetangco considered tuition fee increases and upward adjustments in electricity charges in the said projection. He also mentioned peso weakness against the impact of lower prices of food items as another factor. The Philippine peso remains at the P43-to-a-dollar level for over a week now.

    “Over the policy horizon, inflation is expected to remain manageable, falling within the target range,” he said.

    The BSP governor also assured the public that the central bank will closely monitor evolving domestic and global developments.

    He also said that the BSP will adjust the policy stance “as and when needed.”

    Earlier, Tetangco said that monetary policy will continue to be conducted in consideration of the inflation outlook, and mindful of any financial stability pressures.

    He noted that the central bank’s inflation outlook remains steady and still closer to the lower end of its target despite the recent exchange rate movements.

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