MANILA - Inflation in March likely settled within the 7.4 to 8.2 percent range, the Bangko Sentral ng Pilipinas said on Friday.
The estimate is lower than the 8.6 percent rate the previous month.
The lower outlook was due to the rollback in domestic petroleum prices, lower prices of fruits and vegetables as well as the decline in chicken and sugar prices, the central bank said in a statement.
Meanwhile, the upward price pressures for the month were from higher Meralco rate, and the increases in pork, fish, eggs and rice, it said.
“Going forward, the BSP remains prepared to respond appropriately to continuing inflation risks in line with its data-dependent approach to monetary policy formulation,” the BSP said.