Push Admin

Inflation likely between 8.5 to 9.3 pct in February says BSP

Article (news)

ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="The Bangko Sentral ng Pilipinas said on Tuesday inflation likely settled between the 8.5 to 9.3 percent range in February. Maria Tan, ABS-CBN News/File" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2023/life/02/28/20230220-agora-public-market-srp-consumers-mt-3.jpg"/><figcaption>The Bangko Sentral ng Pilipinas said on Tuesday inflation likely settled between the 8.5 to 9.3 percent range in February. <em>Maria Tan, ABS-CBN News/File</em></figcaption></figure></div><p>MANILA - The Bangko Sentral ng Pilipinas said on Tuesday inflation likely settled between the 8.5 to 9.3 percent range in February.</p><p>Upward price pressures for the month were from higher LPG prices as well as the elevated prices of key food items such as pork, fish, egg and sugar, the BSP&#x27;s Department of Economic Research said in a statement.</p><p>On the other hand, the lower prices for domestic petroleum, fruits and vegetables, chicken and beef, along with the peso appreciation could have contributed to the easing in price pressures, it added.</p><p>&quot;The BSP will continue to adjust its monetary policy stance as necessary to prevent the further broadening of price pressures as well as the emergence of additional second order effects,&quot; it said.</p><p>Inflation accelerated to 8.7 percent in January, exceeding the forecast by the central bank.</p><p>Economists are expecting another 25 basis points or up to 50 bps interest rate hike in the next monetary policy meeting in May as inflation remains above the government&#x27;s 2 to 4 percent target.</p><p>The Philippine Statistics Authority is set to release the official inflation figures on Tuesday March 7.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/02/16/23/bsp-hikes-benchmark-by-50-bps-key-rate-now-6-percent">Bangko Sentral hikes benchmark rate by 50 bps to 6 percent, highest since Aug. 2008</a></li>	<li><a href="https://news.abs-cbn.com/business/02/20/23/bsp-seen-to-implement-more-rate-hikes-due-to-elevated-inflation-fitch">Bangko Sentral seen to implement more rate hikes due to elevated inflation: Fitch</a></li>	<li><a href="https://news.abs-cbn.com/business/02/07/23/inflation-quickens-to-87-percent-in-january-2023">Inflation quickens to 8.7 pct in January as housing, water, power costs rise</a></li></ul><div><strong>RELATED VIDEO</strong></div><figure class="op-interactive"><iframe height="315" src="https://www.youtube.com/embed/xeheNNN3ei8?enablejsapi=1" width="560"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

The Bangko Sentral ng Pilipinas said on Tuesday inflation likely settled between the 8.5 to 9.3 percent range in February.