April inflation likely within 4.2 to 5 pct range: BSP

ABS-CBN News

Posted at Apr 29 2022 03:38 PM | Updated as of Apr 29 2022 03:55 PM

Motorists queue for fuel at a gas station in Quezon City on April 19, 2022, after another oil price hike. Mark Demayo, ABS-CBN News/File
Motorists queue for fuel at a gas station in Quezon City on April 19, 2022, after another oil price hike. Mark Demayo, ABS-CBN News/File

MANILA - Inflation for the month of April likely settled within the 4.2 to 5 percent range, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said Friday.

"The BSP projects April 2022 inflation to settle within the range of 4.2 to 5.0 percent," Diokno said in a tweet.

Primary sources of inflationary pressures for the month include higher electricity rates in Meralco-serviced areas, increased domestic petroleum prices, higher meat and fish prices as well as from the positive base effects, the BSP said.

These could be offset by the lower prices of fruits and vegetables and the stable peso, it added.

Oil prices have been volatile since Russia's invasion of Ukraine began in February.

The consumer price index rose 4 percent in March, faster than the 3 percent in January and February.

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