BSP sees June inflation rate at 2.2 – 3%

MANILA, Philippines—The Bangko Sentral ng Pilipinas (BSP) is expecting the inflation rate in June to fall between 2.2 percent to 3 percent, which is within government’s target.

“At Bangko Sentral, we project that inflation last month was about between 2.2 percent to 3 percent. That’s within the target of the government 3 percent +- 1, that’s between 2 to 4,” BSP Governor Ben Diokno said Thursday in an interview over ABS-CBN News Channel.

Diokno also said growth would be between 6 to 7 percent as projected by the Development Budget Coordination Committee.

In May, the Philippine Statistics Authority (PSA) reported that the country’s inflation rate rose by 3.2 percent compared to the 3 percent recorded in April 2019.

The May 2019 inflation rate is lower than the 4.6 percent recorded in May 2018.  (Editor: Mike U. Frialde)

READ: May inflation rate rises to 3.2% after 6-month slowdown