The Bangko Sentral ng Pilipinas (BSP) expects April inflation to settle within the 1.3 percent to 2.1 percent range, driven by lower prices of food and oil.
The upper end of the forecast is slightly higher than March’s 1.8% inflation, according to data from the Philippine Statistics Authority.
In a statement on Wednesday, the BSP said declining prices of rice, fish, fruits, and vegetables are expected to support continued low inflation.
The Central Bank attributed the lower prices to increased supply volumes of these food items and other goods, including fuel.
However, it warned that disinflation may be tempered by higher electricity rates and increased fares for LRT-1.