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BSP warns of inflation spike due to supply chain disruptions
The Bangko Sentral ng Pilipinas (BSP) anticipates that inflation will remain low in the coming months due to weak domestic demand and declining global oil prices, although temporary price spikes might occur because of supply chain disruptions.
BSP Governor Benjamin Diokno assured the public that the central bank is prepared to use its full range of measures to maintain economic stability during the COVID-19 pandemic.
The BSP has already implemented several measures to protect the macroeconomy and support the government's efforts to mitigate the pandemic's economic impact.
The central bank's first-quarter report indicated that headline inflation increased but remained within the target range set by regulators.
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