The Bangko Sentral ng Pilipinas (BSP) said inflation may have accelerated further in May, with consumer price growth potentially reaching as high as 7.9 percent amid persistent increases in food, fuel and transportation costs.

In its latest assessment, the central bank projected that May inflation could settle within a range that includes 7.9 percent, reflecting continued price pressures across key commodities and services.

The forecast follows the sharp rise in headline inflation to 7.2 percent in April, when higher prices of rice, vegetables, fuel and electricity pushed overall consumer prices upward.

2026 inflation outlook revised

The BSP has also revised upward its inflation outlook for 2026, citing elevated global oil prices and ongoing supply-side risks that continue to affect the domestic economy.

Economists have warned that sustained inflation could further erode household purchasing power and increase business operating costs, particularly for sectors heavily dependent on fuel and transportation.

The Philippine Statistics Authority is expected to release the official May inflation data in the coming days.