Philippine inflation may have revved up past 6 percent in April as higher energy costs tied to the Middle East conflict added to price pressures, the Bangko Sentral ng Pilipinas (BSP) said.
In a statement, the BSP projected that consumer prices rose between 5.6 percent and 6.4 percent from a year earlier last month.
“Inflation risks have intensified amid upward price pressures from significantly higher domestic petroleum prices, rising prices of key food items such as rice, fish, and meat, increased electricity charges, and the peso depreciation,” the central bank said.
It added: “The anticipated decline in vegetable and fruit prices may help temper inflation, but sources of upside price pressures continue to warrant close monitoring.” (Ian Nicolas P. Cigaral © Philippine Daily Inquirer)
