MANILA — The Philippine inflation rate was likely to fall within a range of 6.0% to 7.0% in June, the central bank said on Tuesday, reflecting lower prices of major food items and higher electricity rates.
“The BSP will remain vigilant and guided by incoming data, particularly on inflation and growth prospects. It will continue to monitor recent developments in the Middle East for their implications for inflation and economic activity,” the central bank said in a statement.
Annual inflation was 6.8% in May.
—Reporting by Karen Lema; Editing by John Mair
