MANILA — Philippine inflation was likely to fall within the range of 7.1% to 7.9% range in May, the central bank said on Saturday.
The central bank said “upside price pressures were driven by rising prices for rice, vegetables and meat, as well as the depreciation of the peso”.
The Philippines’ statistics agency will release inflation data on June 5.
—Reporting by Mikhail Flores; Editing by Jacqueline Wong
