The Bangko Sentral ng Pilipinas forecast February 2023 inflation to settle at the range of 8.5 to 9.3 percent.
In a press release, the BSP said upward price pressures for the month are expected to come from higher LPG prices and elevate food prices such as pork, fish, egg and sugar.
Tge lower prices of domestic petroleum, fruits and vegetables, chicken and beef along with the appreciation of the peso could contribute to the easing price pressures flor the month.
The BSP will continue to adjust its monetary policy stance as necessary to prevent the further broadening of price pressures as well as the emergence of additional second order effects.
The BSP will also continue to monitor closely emerging price developments in accordance with the BSP’s price stability mandate.