MANILA -- The Department of Economic Research (DER) of the Bangko Sentral ng Pilipinas (BSP) forecasts that inflation rate this month to settle between 4.3 percent and 5.1 percent.
In a statement Friday, the central bank’s think tank has seen price pressures from rice and other agricultural products due to weather-related disruptions driving inflation in June.
Prices of liquefied petroleum gas (LPG) likewise increased this month.
On the other hand, the rollbacks in the pump prices of petroleum products this month will likely offset price pressures.
Reduction in electricity rates in areas serviced by the Manila Electric Co. has also seen to contribute in tempering inflation in June.
“Going forward, the BSP will continue to keep a watchful eye on the risks to the inflation outlook to help ensure price stability conducive to a balanced and sustainable growth of the economy,” the DER said.
Inflation data is expected to be released next week.
Inflation rate last month stood at 4.6 percent. (PNA)
