BSP pegs April inflation at 1.3% to 2.1% range

The Bangko Sentral ng Pilipinas (BSP) is projecting the country’s inflation rate to settle within the 1.3% to 2.1% range in April.

The lower-end of the BSP forecast range is slower than the 1.8% inflation rate seen in March. 

“Easing prices of rice, fish, fruits, and vegetables, favorable domestic supply conditions along with lower oil prices and the peso appreciation contributed to the downward price pressures for the month,” the central bank said.

However, the upper-end of the BSP’s outlook could breach 2% which could be due to “higher electricity rates and LRT1 fares.”

For March, Meralco raised its household rate by 26.39 centavos per kilowatt-hour, bringing the household rate to P12.2901 per kWh from P12.0262 per kWh in February.

Meanwhile, the government-approved increase in LRT1 fares —maximum fare of P45 for a single journey end-to-end trip to P55, minimum fare from P15 to P20– took effect on April 2.

“Going forward, the Monetary Board will continue to take a measured approach in adjusting the monetary policy stance in line with its price stability objectives conducive to balanced and sustainable growth of the economy and employment,” the BSP said.—LDF, GMA Integrated News