MANILA (Reuters) – Philippine annual inflation in April was expected to come in between 6.3% and 7.1%, with downward pressure from lower electricity rates and a decline in prices of fish and vegetables, the central bank said on Friday.
Bangko Sentral ng Pilipinas said it “remains prepared to respond appropriately to continuing inflation risks in line with its data-dependent approach to monetary policy formulation”.
Upward price pressures were expected from higher domestic petroleum prices, increased rice and meat prices, and peso depreciation, it added.
April inflation data is due to be released on May 5.
Inflation eased for the second straight month in March, to 7.6%.
(Reporting by Neil Jerome Morales; Editing by Kanupriya Kapoor)