February inflation likely between 2.3% and 3.1% – central bank

INCREASED PRICES of rice, fish and fuel and higher electricity rates may have pushed up inflation in February, the Bangko Sentral ng Pilipinas (BSP) said on Friday.

Based on the central bank’s month-ahead forecast, the consumer price index likely accelerated to between 2.3% and 3.1% this month.

If realized, this would be faster than the 2% print in January and the 2.1% clip recorded in the same month last year

It would also mark the second straight month that inflation settled within the BSP’s 2%-4% target.

“Upward price pressures could stem from higher prices of rice and fish, elevated domestic petroleum prices, and increased electricity charges in Meralco (Manila Electric Co.)-serviced areas,” the BSP said.

“These pressures, however, may be partly offset by lower prices of vegetables, fruits, and meat, as well as peso appreciation.” — Katherine K. Chan