Bangko Sentral ng Pilipinas (BSP) Gov. Eli Remolona Jr. said inflation for April is estimated at between 1.3 percent and 2.1 percent.
“Easing prices of rice, fish, fruits and vegetables, favorable domestic supply conditions, along with lower oil prices and the peso appreciation contributed to the downward price pressures for the month,” Remolona said.
He added, however, that food prices could be partly offset by higher electricity rates and Light Rail Transit-1 fares.
Going forward, the Monetary Board will continue to take a measured approach in adjusting the monetary policy stance in line with its price stability objectives conducive to balanced and sustainable growth of the economy and employment,” Remolona said.
The inflation forecast is lower than the government’s full-year inflation target of between 2 percent and 4 percent.
“If the 1.3 percent inflation forecast is realized, it will be the slowest since November 2019 when the inflation rate was at 1.2 percent,” the central bank said.
Based on the mean average of estimates by five economists and a senior research fellow polled by Malaya Business Insight earlier, inflation likely remained steady at 1.8 percent in April.
Since prices of key food items continued to wane, especially rice, respondents to the survey agreed that inflation should be benign in April.
Actual inflation data for March slowed to 1.8 percent from 2.1 percent in February and 3.7 percent in March a year earlier, the Philippine Statistics Authority (PSA) reported in early April.
The slower price movements in March were associated with slower increases in prices of food and non-alcoholic beverages.
Slower increases in housing, water, electricity, gas and other fuels, as well as transport, also contributed to the overall inflation in March.
Core inflation, which excludes select food and energy items, eased to 2.2 percent in March 2025 from 2.4 percent a month earlier.
The PSA is scheduled to release the inflation data for April on May 6.
