BSP: March inflation faster at 3.8-4.6%
Prices have risen yet again.
The Bangko Sentral ng Pilipinas (BSP) said inflation picked up the pace in March as they gave a 3.8-4.6 percent forecast range. This is faster than the 3.9 percent reported for February, which is already the fastest in over three years.
“Adjustments in electricity rates owing to increased power generation charges as well as higher prices of domestic petroleum products, reflecting recent depreciation of the peso, are expected to contribute to upside price pressures,” the BSP said, noting that rice prices have also contributed to overall inflation.
On the other hand, lower gas prices may have softened the impact.
Blame is being pinned on the tax reform law as a main driver of inflation this 2018.