The Bangko Sentral ng Pilipinas (BSP) said in a statement on Thursday it projects June inflation to settle within the range of 5.7 to 6.5 percent.

In May, inflation was at 5.4 percent.

''The continued increase in domestic oil prices, upward adjustment in electricity rates, higher prices of key food items, and peso depreciation are the primary sources of inflationary pressures during the month'', the BSP said.

''These could be offset in part by lower price of LPG and fish,'' it added.

The BSP said it will continue to monitor closely emerging price developments to enable timely intervention to arrest emergence of further second-round effects, consistent with BSP’s mandate of price and financial stability. DMS