Nation

BSP projects June inflation to settle at 1.9 percent to 2.7 percent

The Bangko Sentral ng Pilipinas (BSP) projected that the inflation rate for the month of June will range from 1.9 percent to 2.7 percent.

BSP said on Tuesday, June 30, that higher gasoline, diesel, and kersosene prices as well as the uptick in the price of rice due to supply bottlenecks contributed to positive pressures during the month of June.

The central bank added that slightly lower prices of liquefied petroleum gas (LPG), and electricity rates of the Manila Electric Company during the month of June offset the factors that contributed to the upward pressure on inflation.

Inflation in the month of May slowed down to 2.1 percent, the lowest since the 1.3 percent recorded in November 2019.

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