Philippines' May y/y inflation 'definitely lower' than April's 6.6%, says its central bank chief

MANILA, June 4 (Reuters): Philippine headline inflation in May will be "definitely lower" than April's 6.6%, and expected to ease further to below 4% by September or October, the central bank chief said recently.

Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla also said he expects inflation to go below 2% by January next year, and average under the mid-point of the target for the entire year.

Medalla's remarks to reporters on the sidelines of a business forum on Monday come ahead of the June 6 release of the May inflation data.

Inflation eased for a third successive month in April.

Medalla on May 18 signaled a continued pause in the BSP's monetary policy tightening after it kept its benchmark interest rate steady, following a series of rate hikes totaling 425 basis points to curb inflation.

The Philippine government also posted a budget surplus of 66.8 billion Philippine pesos (US$1.21 billion) in April, versus a surplus of 4.9 billion pesos in the same month last year, the Bureau of the Treasury said in a statement last week. - Reuters

Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Philippines , Inflation , Going Down


Next In Aseanplus News

North Korean soccer players clash with referee after losing to Japan in the quartefinals clash
Paris in sight as dethroned China duo bounce back with Asiad golds at the field events in Hangzhou
Haze: Nine areas in Peninsula record unhealthy API readings as of 4pm
Asean News Headlines at 9pm on Sunday (Oct 1, 2023)
The bull case for emerging markets in 2023 Is finally shattering
Indonesia to launch China-funded high-speed rail, first in South East Asia
Heavy rain in Thailand bring down bridge across the Ping River that connects Chiang Mai and Lamphun
Singapore's UOB warns against fake Taylor Swift meet-and-greet invites
Sexy gets sexier: Parisian top ranked cabaret show Crazy Horse gets even ‘crazier’ with Blackpink's Lisa
What is Seoul, in 2023?

Others Also Read