Inflation likely at 2.2 to 3 percent range in June: BSP think tank


Posted at Jun 28 2019 03:21 PM | Updated as of Jun 28 2019 04:17 PM

A rice retailer tends to his stall at the Libertad market in Pasay City on April 29, 2019. Jonathan Cellona, ABS-CBN News/File

MANILA - Inflation could settle within the 2.2 to 3.0 percent range in June, a Bangko Sentral think tank said Friday. 

Lower rice and local oil prices, the downward adjustment in electricity rates and the recent peso appreciation are seen to "temper" inflation during the month, BSP's Department of Economic Research said in a statement. 

The Consumer Price Index rose 3.2 percent in May from 3 percent in April, staying within the government's 2 to 4 percent target range.

The peso, meanwhile, touched P51.365 against the dollar on Tuesday's close, its strongest level since February 2018.