INFLATION may settle between 3.4 to 4.2 percent in June, the Bangko Sentral ng Pilipinas (BSP) said.
The central bank said price hikes in rice, vegetables, meat, and fish prices may keep inflation up.
Higher oil prices and the falling of the peso may also drive inflation upward.
Meanwhile, lower power costs and fruit prices may temper the consumer price index.
After easing to 2.8 percent at the start of the year, inflation quickened to 3.4 percent in February, 3.7 percent in March, 3.8 percent in April and 3.9 percent in May amid high food, fuel, and electricity costs.
The BSP has been keeping monetary policy tight in a bid to curb inflation. In its June meeting, the central bank kept interest rates steady, as BSP Governor Eli Remolona noted that risks to the inflation has shifted to the downside for 2024 and 2025. (ABS-CBN News)
