Private-sector analysts expect May inflation in the Philippines to recede further from 6.6 percent in April to 6 percent, which is near the lower end of the range forecast by the Bangko Sentral ng Pilipinas. | RonWDomingoINQ /PDI
Core inflation excludes goods and services whose prices change more quickly, such as food and energy.The United Nations noted that prices of food remained high across the globe even if agricultural prices have been declining over the past year.
“Strong demand for certain goods and services has also put upward pressure on prices and may cause core inflation to remain elevated and above the headline,” he added. Jean de Castro, head of fixed income at Manulife Investment Management and Trust Corp., said they expect negative base effects in the coming months to significantly result in slower inflation data, in line with the BSP inflation forecast.“Looking ahead to the fourth quarter, local inflation can be expected to fall within the BSP’s 2 percent to 4 percent target range, barring any sharp increases in global oil prices,” De Castro said.
The UN-administered Agricultural Market Information System said that while agricultural prices have declined over the past 12 months, food price inflation remains high.
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