3.8% April inflation rate still within forecast range, says BSP

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Philippine inflation accelerated for the third consecutive month in April due to higher prices of food and non-alcoholic beverages, according to the Philippine Statistics Authority .

April witnessed a surge in food inflation, rising to 6.3 percent from the previous month’s 5.7 percent. Key contributors include vegetables , fish , and ready-made products . In addition, higher inflation rate was also noted in information and communication at 0.5 percent during the month from 0.4 percent in March 2024.

“Nonetheless, the BSP expects average inflation to return to the target range for full year 2024 and 2025,” it added. “The government’s major strategies aim to increase productivity, build the resilience of the agriculture sector, and improve the efficiency of food systems,” he added.

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MlaStandard /  🏆 20. in PH

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