BSP, NEDA sees lower inflation for May
The Bangko Sentral ng Pilipinas (BSP) sees May inflation to settle to within 5.8 to 6.6 percent from April's 6.6 percent.
''The cumulative rollback in domestic petroleum prices as well as lower poultry and fish prices and electricity rates of various regional power distributors could lead to lower inflation in May,'' said the BSP.
On Friday, National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said inflation is on the ''downtrend'' after it soared to 8.7 percent, its highest in 14 years, in January.
Balisacan said May inflation will be known on Tuesday.
''Higher prices of rice, vegetables, and other key food items as well as the increase in LPG and Meralco electricity rates are the primary sources of upward price pressures for the month,'' BSP said in its forecast. DMS
