Lower inflation expected in June — BSP

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Metro Manila (CNN Philippines, June 28) — Inflation may have eased further in June, the Bangko Sentral ng Pilipinas (BSP) said Friday.

As food prices continue to stabilize, the BSP expects inflation to fall between 2.2 to 3.0 percent --  lower than May's 3.2 percent pace. Inflation in June a year ago was  5.2 percent.

"Lower rice and domestic oil prices along with downward adjustment in electricity rates and recent peso appreciation are seen to temper inflation pressure during the month," the BSP said in a statement.

Inflation has eased since the start of 2019, falling within the government target of 2 to 4 percent for the full year.

The Philippine Statistics Authority is expected to release the official inflation data for June on July 5.