The Bangko Sentral ng Pilipinas (BSP) projects April 2022 inflation to settle within the range of 4.2 to five percent, it said on Friday.

The inflation rate was four percent in March.

Higher electricity rates in Meralco-serviced areas, increased domestic petroleum prices as well as higher meat and fish prices are the primary sources of inflationary pressures during the month. Inflation pressures will also emanate from positive base effects.

These could be offset in part by lower prices of fruits and vegetables and the broadly stable peso.

Looking ahead, the BSP will continue to monitor emerging price developments and possible second-round effects to help achieve its primary mandate of price stability that is conducive to balanced and sustainable growth of the economy. BSP