Slower inflation seen to continue in May — BSP

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Metro Manila (CNN Philippines, May 31) — The Bangko Sentral ng Pilipinas (BSP) expects the inflation rate to maintain its downward trend in May.

In a statement on Wednesday, the BSP said inflation rate may settle within the range of 5.8% to 6.6%.

The low end of the central bank’s inflation forecast is slower than April’s 6.6%.

The drop in prices of fuel, poultry, fish, and power could lead to lower inflation, it added.

Meanwhile, higher prices of rice, vegetables, as well as other food items, and increase in liquefied petroleum during the month can put price pressures.

“Going forward, BSP will continue to monitor developments affecting the outlook for inflation and growth in line with its data-dependent approach to monetary policy formulation,” the BSP said.