Philippine Inflation Forecast for May 2021


The BSP projects May 2021 inflation to settle within the range of 4.0 – 4.8 percent. Higher prices of meat and domestic petroleum products along with the upward adjustment in Meralco electricity rates are the main sources of upward price pressures for the month. These could be offset by the decline in prices of key food items, such as rice, vegetables, and fish, due to improved supply conditions, along with the appreciation of the peso. Moving forward, the BSP will remain watchful of economic and financial developments to ensure that the monetary policy stance remains consistent with the BSP’s price stability mandate.

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Bangko Sentral ng Pilipinas Press Release

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