THE Bangko Sentral ng Pilipinas (BSP) said on Friday that the country's headline inflation rate likely rose to 4.3 percent in July, a two-month high.

July's point inflation projection, according to BSP Governor Benjamin Diokno, was within the central bank's estimated range of 3.9 to 4.7 percent for the month.

The outlook is higher than the 4.1 percent increase in June, but lower than the 2.7 percent print a year ago.

If accurate, the forecasted rate would be the fastest in two months, or since May's 4.5 percent.

The Philippine Statistics Authority will issue official July inflation data on August 5, 2021.

"Higher prices of domestic petroleum products and key food items along with the upward adjustment in Meralco electricity rates and a weaker peso are the main sources of upward price pressures for the month," Diokno said.