• The Bangko Sentral ng Pilipinas (BSP) forecasts March 2024 inflation could be a low of 3.4 percent which was the same rate in February, or climb to a high of 4.2 percent due to upside price pressures from rice, meat, electricity and fuel.
  • In a statement Monday, April 1, the BSP’s delayed month-ahead inflation forecast – scheduled to be released last March 27 – noted that inflation may increase from 3.4 percent in February because of the sustained hikes in the prices of rice and meat, as well as the higher domestic oil prices and electricity rates.
  • The BSP said these are “the primary sources of upward price pressures for the month” of March.
  • What could pull the consumer price index (CPI) down or at very least settle at 3.4 percent is the lower prices of fruits, vegetables and fish. The relatively strong peso at P55 vis-à-vis the US dollar is also seen to contribute to downward price pressures, said the BSP.