Inflation estimated at 1.9-2.7% in May

PHILIPPINE headline inflation could have fallen further to 1.9 percent percent or jumped to 2.7 percent this month on the back of higher oil and food prices, as well as lower electricity rates, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno announced.

In a Viber message on Friday, Diokno said the forecast range provided by the central bank’s Department of Economic Research has a point inflation projection of 2.3 percent, which is slightly quicker than April’s 2.2 percent, but lower than the 3.2 percent in May 2019.