Inquirer
High meat, fuel prices kept PH inflation elevated in April
Inflation in the Philippines remained stable at 4.5% in April, matching the March rate and exceeding the Bangko Sentral ng Pilipinas' target range of 2% to 4%.
Higher transportation and fuel costs, driven by rising global oil prices, contributed significantly to the inflation rate.
Food inflation rose by 4.8% in April, with meat prices, particularly pork, soaring by 22.1% year-on-year.
Pork prices saw a faster increase of 57.7% year-on-year in April compared to 51.8% in March, following the lapse of a price cap.
The Bangko Sentral ng Pilipinas expects inflation to remain elevated this year due to supply-side pressures before settling near the midpoint of its target range next year.
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The Bangko Sentral ng Pilipinas (BSP) projects April inflation to be between 4.2 percent and 5 percent, exceeding the central bank's target.
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