MANILA — Philippine annual inflation was likely to be within a range of 3.4% to 4.2% in June, the central bank said on Friday, owing to price increases in some agricultural commodities and the peso currency’s depreciation.
The central bank said it will continue monitoring developments affecting the outlook for inflation and growth.
Lower electricity rates and fruit prices could contribute to a deceleration in inflation, it added.
Annual inflation PHCPI=ECI accelerated for the fourth straight month in May, to 3.9%, due largely to a faster pace of increases in housing, utility and transport.
The Philippines’ statistics agency will release inflation data on July 5. The central bank held its policy rate steady at 6.50% on Thursday but flagged a possible 25 basis points rate cut in August.
—Reporting by Neil Jerome Morales; Editing by John Mair, Ed Davies
