BSP forecasts March inflation 4.2-5%

The Bangko Sentral ng Pilipinas (BSP) forecasts March inflation between 4.2% and 5%, with a point projection of 4.6%. This is slightly lower than February's rate of 4.7%.

Higher oil prices and the weakening peso are expected to drive up inflation, while lower electricity rates and price caps on meat products will mitigate this increase.

The BSP projects that elevated inflation will continue until the third quarter due to supply constraints on food items like meat caused by African swine fever (ASF) and rising global oil prices.