INFLATION accelerated anew in April, the government reported on Friday, rising to 4.5 percent from 4.3 percent a month earlier on the back of higher beverage, tobacco, utility and transport prices. The Bangko Sentral, which has repeatedly stressed that domestic monetary policy would remain data-dependent, said the latest inflation numbers would be considered during next week’s Monetary Board policy meeting. “Our base case is that the BSP will maintain its policy rate at 3.0 percent next week. Cuyegkeng also said that he expected inflation to peak in May or June at around 4.8- 4.9 percent. The BSP, which expects inflation to top out in the July-September period, has a 3.9 percent forecast for 2018.

Source: Manila Times May 04, 2018 16:30 UTC