MANILA - Inflation in July likely settled within the 3.9 to 4.7 percent range, a Bangko Sentral ng Pilipinas think tank said Friday.
The main sources of upward prices pressure are the higher prices of domestic petroleum products, key food items, upward adjustments in Meralco rates as well as the weaker peso, the BSP Department of Economic Research said in a statement.
"Moving forward, the BSP will continue to monitor emerging price developments to ensure that its primary mandate of price stability conducive to balanced and sustainable economic growth is achieved," it said.
Inflation in June, which settled at 4.1 percent, is the slowest since December 2020.
BSP Gov. Benjamin Diokno earlier said inflation could start to ease by the second half of the year.
The government's target inflation range is between 2 to 4 percent.