The Bangko Sentral ng Pilipinas (BSP) on Tuesday vowed that it will take necessary actions to make sure that inflation returns to target within a reasonable time.<\/p>\n
“The BSP is committed to fulfilling its primary mandate of slow inflation and will take necessary actions to ensure inflation returns to its 3-percent target within a reasonable time,” the BSP said in a statement.<\/p>\n
Inflation accelerated to 7.2 percent in April from 4.1 percent in March this year.<\/p>\n
The April inflation data was above the BSP forecast range of 5.6 percent to 6.4 percent for the month.<\/p>\n
The average inflation from January to April was at 3.9 percent, exceeding the BSP\u2019s target of 3 percent for the full year.<\/p>\n
The BSP said the higher inflation reflects the impact of higher international fuel prices on food and energy costs.<\/p>\n
Rice and fish prices increased due to higher post-harvest and transportation costs, it said.<\/p>\n
Transport inflation rose with higher domestic petroleum prices at the pump, while electricity rates increased due to higher generation charges.<\/p>\n
Core inflation, which excludes volatile food and energy items, also rose from 3.2 percent in March to 3.9 percent in April.<\/p>\n
The Monetary Board of the BSP raised policy rates by 25 basis points last month amid rising inflation linked to the Middle East conflict.<\/p>\n
It earlier said inflation is now projected to average 6.3 percent this year and 4.3 percent for 2027.<\/p>\n
The BSP said it “will remain vigilant for spillover effects, data-driven, and ready to act as needed.” (PNA)<\/p>\n","protected":false},"excerpt":{"rendered":"
The central bank is focused on keeping inflation under control.<\/p>\n","protected":false},"author":73,"featured_media":263067,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19565],"tags":[],"class_list":["post-263066","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business-today"],"zyndk8_nxtgen_metadata":{"nxtgen_comments":[{"9152":"more solutions sana \ud83d\ude80\r","9153":"more control malaking bagay \ud83d\udcaf\r"}]},"_links":{"self":[{"href":"https:\/\/uptownmanila.com\/index.php?rest_route=\/wp\/v2\/posts\/263066","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uptownmanila.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uptownmanila.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uptownmanila.com\/index.php?rest_route=\/wp\/v2\/users\/73"}],"replies":[{"embeddable":true,"href":"https:\/\/uptownmanila.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=263066"}],"version-history":[{"count":0,"href":"https:\/\/uptownmanila.com\/index.php?rest_route=\/wp\/v2\/posts\/263066\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uptownmanila.com\/index.php?rest_route=\/wp\/v2\/media\/263067"}],"wp:attachment":[{"href":"https:\/\/uptownmanila.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=263066"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uptownmanila.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=263066"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uptownmanila.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=263066"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}