CPI could fall below 6% with lower meat and fruit prices, and rollback of LPG price. ManilaBulletin READ:
CPI could fall below 6% with lower meat and fruit prices, and rollback of LPG price.The Bangko Sentral ng Pilipinas forecasts a low of 5.3 percent consumer price index for the month of June from May’s actual 6.1 percent inflation with the lower prices of meat and fruits, as well as liquified petroleum gas used widely in households.
Before June 2022, the last time inflation exceeded six percent was in August 2018. That year, CPI peaked in September and October at 6.7 percent before declining to six percent by November and to 5.1 percent by December 2018. Meanwhile, down price pressures for June will likely come from the lower prices of meat and fruits and the rollback in LPG prices.
As of end-May this year, inflation averaged at 7.5 percent which was still way above the government target range of two percent to four percent. The BSP has a current “hold” position in monetary policy setting. The benchmark rate has remained at 6.25 percent for the last two policy meetings in a row.
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