The Bangko Sentral ng Pilipinas (BSP) on Tuesday forecasts inflation in February to settle within the range of 8.5 to 9.3 percent.
This compares with headline inflation averaging 8.7 percent in January, which was also higher than the consensus for inflation to push no higher than 7.7 percent during the month.
This, the BSP also said, indicates continued price pressure on commodities and goods typically purchased by households and businesses that in this particular case emanate from higher LPG prices as well as elevated prices of key food items, such as pork, fish, egg, and sugar.
The lower prices for domestic petroleum, fruits and vegetables, chicken, and beef, along with the peso appreciation could contribute to easing price pressures during the month.
The BSP will continue to adjust its monetary policy stance as necessary to prevent the further broadening of price pressures as well as the emergence of additional second order effects.
The BSP will also continue to monitor closely emerging price developments in accordance with the BSP’s price stability mandate.
