March inflation likely at 3%-3.8% – BSP

Headline inflation may settle between 3 percent and 3.8 percent this month, the central bank said, citing pressure from higher electricity rates in areas serviced by the Manila Electric Co. (Meralco).

The latest forecast by the Bangko Sentral ng Pilipinas (BSP) compares with 1.1 percent a year in March 2015 and with 3.3 percent in February this year, the fastest since November 2014, when inflation registered at 3.7 percent.