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MANILA – The Bangko Sentral ng Pilipinas on Wednesday said inflation likely ranged from 2.5 to 3.4 percent in June.
BSP Governor Amando M. Tetangco Jr. said the central bank’s forecast for this month is based on the offsetting effects of higher utility rates, vegetable prices and the peso’s depreciation on the one hand, and lower fuel prices on the other.
Tetangco said the contrasting scenarios would mean that inflation this month stayed “broadly the same” as last month.
“This and the latest projection for the inflation path over the policy horizon continue to support our view that inflation is manageable,” he said.
Consumer prices rose at a slower 2.9 percent in May from three percent in April, keeping the five-month average at three percent, or at the low end of the BSP’s target range of three to five percent.
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