MANILA – Inflation is likely to have continued to ease this month due to the drop in prices of agricultural commodities during the month, the Bangko Sentral ng Pilipinas (BSP) said Thursday.
In an emailed statement, the BSP said its Department of Economic Research projects February inflation within 3.7 to 4.5 percent.
This compares with the 4.4 percent recorded in January this year.
“Higher domestic oil prices and the upward adjustment in electricity rates provided upside price pressures to inflation during the month,” the BSP said.
“These may be partly offset by lower prices of rice and other agricultural commodities given the appreciation of the peso and ample supply particularly of rice following the recent harvest and arrival of rice imports,” it added.
The BSP earlier this month said it now has more space to review monetary policy, given the slowdown of inflation in January. (GMA News)
