Private-sector analysts expect inflation in the Philippines to have averaged at 8 percent in March, firming up the possibility that interest rate would stop being raised in response. | RonWDomingoINQ /PDI
This consensus forecast is lower than the previous month’s readout of 8.6 percent, but higher than the estimate of the Bangko Sentral ng Pilipinas .The BSP is looking at 7.8 percent, give or take 0.4 percentage point , or a range of 7.4 percent to 8.2 percent.For ING Bank, an 8-percent readout in March could allow the central bank to pause at its May policy meeting.
“Transport [costs are] also expected to have tempered, but these may be offset by slightly higher prices in utilities, with [Manila Electric Co.] increasing its charges for the month [of March],” Security Bank chief economist Robert Dan Roces said. “Considering the BSP’s forecast [for the March print], I would say, yes, inflation has peaked,” Diokno said.
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