The Bangko Sentral ng Pilipinas expected that the country's inflation rate for April 2024 will fall within the range of 3.5% to 4.3%.
MANILA, Philippines — The Bangko Sentral ng Pilipinas expected that the country's inflation rate for April 2024 will fall within the range of 3.5% to 4.3%.
The BSP also pointed out higher gasoline prices and peso depreciation as this month’s upward inflation pressures. Lower prices of fish, fruits and vegetables, which are also classified under “food prices” may “offset the upside price pressures,” according to the BSP. The central bank’s low-end prediction of the inflation rate is a slight decline from the 3.7% inflation print in March 2024. To mitigate the upward trend in the country's inflation, the BSP's Monetary Board opted to maintain its target reverse repurchase rate at 6.5% during its meeting on April 8. The decision marks the fourth time the rate has remained unchanged since the off-cycle policy meeting in October 2023.
Bsp Food Prices Inflation Oil Price Hike
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