The Bangko Sentral ng Pilipinas (BSP) on Monday projected February inflation to settle within the range of 2.8 to 3.6 percent.

The series of oil price hikes along with higher prices of rice and meat are the primary sources of inflationary pressures during the month.

These could be offset in part by lower electricity rates in Meralco-serviced areas and the observed decrease in prices of fish and vegetables due to easing supply constraints.

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 economic growth of the economy. BSP