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A vegetable vendor puts the current price of the produce on the plastic covers at the Kamuning Market in Quezon City on January 5, 2024. Jonathan Cellona, ABS-CBN News

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ABS-CBN News

<div><span class="fr-img-caption fr-fic fr-dii" style="width:557px"><span class="fr-img-wrap"><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/171956882324420240105-vegetable-market-shrinkflation-JC-6861.jpg" class="fr-fic fr-dii"/><span class="fr-inner" style="text-align:left">A vegetable vendor puts the current price of the produce on the plastic covers at the Kamuning Market in Quezon City on January 5, 2024. <em>Jonathan Cellona, ABS-CBN News</em></span></span></span></div><p>MANILA -- Inflation may settle between 3.4 to 4.2 percent in June, the Bangko Sentral ng Pilipinas (BSP) said Friday. </p><p>In a statement, the central bank said price hikes in rice, vegetables, meat, and fish prices may keep inflation up.</p><p>Higher oil prices and the falling of the peso may also drive inflation upward.</p><p>Meanwhile, lower power costs and fruit prices may temper the consumer price index. </p><p>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 <a data-darkreader-inline-color="" href="https://news.abs-cbn.com/business/2024/6/4/inflation-rises-to-3-9-percent-in-may-1844">May</a> amid high food, fuel, and electricity costs.</p><p>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 Governor Eli Remolona noted that risks to the inflation has shifted to the downside for 2024 and 2025.</p><div data-darkreader-inline-color=""><a href="https://news.abs-cbn.com/business/2024/6/27/bsp-keeps-interest-rates-steady-in-june-930">BSP keeps rates steady in June as gov says August rate cuts now ‘more likely’</a></div><div data-darkreader-inline-color=""><strong>RELATED STORY:</strong></div><div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"> <iframe width="640" height="360" src="https://www.youtube.com/embed/NJAsArGJRNs?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe> </span></div>

Inflation may settle between 3.4 to to 4.2 pct in June: BSP

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Inflation may settle between 3.4 to to 4.2 pct in June: BSP

ABS-CBN News

Published Jun 28, 2024 06:38 PM PHT

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inflation

Philippines

food

rice

vegetables

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