{"id":18543,"date":"2024-05-01T03:10:11","date_gmt":"2024-05-01T03:10:11","guid":{"rendered":"https:\/\/energybuzz.ph\/staging\/6915\/bsp-sees-april-inflation-at-3-5-4-3\/"},"modified":"2024-05-01T03:10:11","modified_gmt":"2024-05-01T03:10:11","slug":"bsp-sees-april-inflation-at-3-5-4-3","status":"publish","type":"post","link":"https:\/\/energybuzz.ph\/staging\/6915\/bsp-sees-april-inflation-at-3-5-4-3\/","title":{"rendered":"BSP sees April inflation at 3.5-4.3%"},"content":{"rendered":"
\n

By Luisa Maria Jacinta C. <\/b>Jocson, <\/b><\/span>Reporter<\/i><\/p>\n

HEADLINE INFLATION may <\/span>have accelerated further in April and possibly breached the 2-4% target, the Bangko Sentral ng Pilipinas (BSP) said.<\/p>\n

The central bank\u2019s month-ahead forecast showed that inflation likely settled within the 3.5%-to-4.3% range in April. This is slower than the 6.6% print in April 2023.<\/p>\n

The upper end of the forecast would exceed the 2-4% target band for the first time in four months.<\/p>\n

On the other hand, the lower end would be slower than the 3.7% inf<\/span>lation recorded in March.<\/p>\n

The Philippine Statistics Authority (PSA) is scheduled to release April in<\/span>f<\/span>lation data on May 7. <\/span><\/p>\n

\u201cContinued price increases for rice and meat along with higher gasoline prices and the peso depreciation are the primary sources of upward price pressures for the month,\u201d the BSP said in a statement on Tuesday. <\/span><\/p>\n

Latest data from the Agriculture department showed that local well-milled rice averaged P45-P55 a kilo as of April 29 from P39-P46 a year ago. A kilo of regular milled rice averaged P46-P52 as of April 29 from P34-P42 a year ago.<\/p>\n

For the month of April, pump price adjustments stood at a net increase of P2.25 a liter for gasoline, and P0.50 a liter for diesel. Kerosene prices had a net decrease of P0.80 a liter.<\/p>\n

Earlier this month, the peso sank to the P57 level for the f<\/span>irst time in nearly 17 months or since November 2022.<\/p>\n

BSP Governor Eli M. Remolona, Jr. earlier said that the BSP \u201cstands ready to manage any unnecessary movement and excessive volatility.\u201d He also noted the peso\u2019s recent performance has been due to the US dollar\u2019s strength amid the Middle East con<\/span>f<\/span>lict.\u00a0<\/span><\/p>\n

\u201cMeanwhile, lower prices of f<\/span>ish, fruits, vegetables as well as lower electricity rates and the rollback in LPG (liquef<\/span>ied petroleum gas) prices could of<\/span>fset the upside price pressures,\u201d the BSP added.<\/p>\n

Manila Electric Co. (Meralco) lowered its overall rate by P0.9879 per kilowatt-hour (kWh) to P10.9518 per kWh in April from P11.9397 in March due to a drop in generation <\/span>and transmission charges. <\/span><\/p>\n

Prices of LPG were also lower for the month. Petron Corp. implemented a P1 per kilogram rollback in LPG prices for April.<\/p>\n

Security Bank Corp. Chief Economist Robert Dan J. Roces said in an e-mail note that food inflation will continue to be a \u201csignif<\/span>icant driver\u201d of overall inf<\/span>lation until July.<\/p>\n

\u201cOnce the base e<\/span>f<\/span>fect from food in<\/span>f<\/span>lation starts fading in August, and inflation begins to moderate, the central bank may have more flexibility to adjust its monetary policy stance, depending on the broader economic conditions,\u201d he said. <\/span><\/p>\n

Food inf<\/span>lation rose to 5.7% in March, its fastest print in four months or since the 5.8% seen in November 2023.<\/p>\n

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort also noted palay (unmilled rice) prices have increased due to the El Ni\u00f1o dry spell.<\/p>\n

Agricultural damage due to the El Ni\u00f1o has reached P4.39 billion as of April 23. Rice losses hit P2.71 billion, accounting for 62% of the total agricultural damage.<\/p>\n

In March, rice inf<\/span>lation surged to 24.4%. This was its fastest print since the 24.6% in February 2009.<\/p>\n

POLICY PAUSE
\n<\/b>Meanwhile, the central bank said that it will \u201ccontinue to monitor developments af<\/span>fecting the outlook for inf<\/span>lation and growth in line with its data-dependent approach to monetary policy decision-making.\u201d<\/p>\n

Mr. Roces said that the central bank will likely extend its policy pause at its next meeting.<\/p>\n

\u201cGiven the elevated inflation readings, we anticipate the BSP to take a proactive approach during their upcoming policy meeting on May 16 where we expect steady rates,\u201d he said.<\/p>\n

The Monetary Board stood pat for a fourth straight meeting in April, keeping its benchmark rate at a near 17-year high of 6.5%.<\/p>\n

From May 2022 to October, the Monetary Board has hiked borrowing costs by 450 basis points. <\/span><\/p>\n

The BSP is likely to retain its hawkish tone \u201cto signal their commitment to price stability,\u201d Mr. Roces said.<\/p>\n

\u201cWith in<\/span>f<\/span>lation projected to overshoot the target in the subsequent months, the BSP will maintain a tight monetary policy stance to anchor inflation expectations and prevent second-round e<\/span>f<\/span>fects,\u201d he said. <\/span><\/p>\n

Mr. Roces said the BSP may have more room to loosen policy in the second half as inf<\/span>lationary pressures begin to ease.<\/p>\n

Mr. Ricafort also noted some US Federal Reserve officials recently signaled cautiousness before cutting rates, \u201cespecially in ensuring that in<\/span>f<\/span>lation is well anchored towards the Fed\u2019s target of 2%.\u201d <\/span><\/p>\n

The Fed\u2019s two-day policy meeting ends on Wednesday (May 1).<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

HEADLINE INFLATION may have accelerated further in April and possibly breached the 2-4% target, the Bangko Sentral ng Pilipinas (BSP) said.<\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[1],"tags":[17640,88,5796,14644,4285,231],"class_list":["post-18543","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-3-5-4-3","tag-april","tag-bsp","tag-bworldonline","tag-inflation","tag-sees"],"yoast_head":"\nBSP sees April inflation at 3.5-4.3% - Energy Buzz<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/energybuzz.ph\/bsp-sees-april-inflation-at-3-5-4-3\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BSP sees April inflation at 3.5-4.3% - Energy Buzz\" \/>\n<meta property=\"og:description\" content=\"HEADLINE INFLATION may have accelerated further in April and possibly breached the 2-4% target, the Bangko Sentral ng Pilipinas (BSP) said.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/energybuzz.ph\/bsp-sees-april-inflation-at-3-5-4-3\/\" \/>\n<meta property=\"og:site_name\" content=\"Energy Buzz\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-01T03:10:11+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/bsp-sees-april-inflation-at-3-5-4-3\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/bsp-sees-april-inflation-at-3-5-4-3\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/#\\\/schema\\\/person\\\/344f8dbaaecf75e51367eef93f492892\"},\"headline\":\"BSP sees April inflation at 3.5-4.3%\",\"datePublished\":\"2024-05-01T03:10:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/bsp-sees-april-inflation-at-3-5-4-3\\\/\"},\"wordCount\":756,\"publisher\":{\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/#organization\"},\"keywords\":[\"3.5-4.3%\",\"april\",\"bsp\",\"bworldonline\",\"inflation,\",\"sees\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/bsp-sees-april-inflation-at-3-5-4-3\\\/\",\"url\":\"https:\\\/\\\/energybuzz.ph\\\/bsp-sees-april-inflation-at-3-5-4-3\\\/\",\"name\":\"BSP sees April inflation at 3.5-4.3% - Energy Buzz\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/#website\"},\"datePublished\":\"2024-05-01T03:10:11+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/bsp-sees-april-inflation-at-3-5-4-3\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/energybuzz.ph\\\/bsp-sees-april-inflation-at-3-5-4-3\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/bsp-sees-april-inflation-at-3-5-4-3\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/energybuzz.ph\\\/staging\\\/6915\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"BSP sees April inflation at 3.5-4.3%\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/#website\",\"url\":\"https:\\\/\\\/energybuzz.ph\\\/\",\"name\":\"Energy Buzz\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/energybuzz.ph\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/#organization\",\"name\":\"Energy Buzz\",\"url\":\"https:\\\/\\\/energybuzz.ph\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/energybuzz.ph\\\/staging\\\/6915\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/EnergyBuzzLogo.png\",\"contentUrl\":\"https:\\\/\\\/energybuzz.ph\\\/staging\\\/6915\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/EnergyBuzzLogo.png\",\"width\":1315,\"height\":656,\"caption\":\"Energy Buzz\"},\"image\":{\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/#\\\/schema\\\/logo\\\/image\\\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/#\\\/schema\\\/person\\\/344f8dbaaecf75e51367eef93f492892\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/136dede3a147ecd1a9946f78a827dcc4c82e31eece4650a789bbb3656cebe664?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/136dede3a147ecd1a9946f78a827dcc4c82e31eece4650a789bbb3656cebe664?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/136dede3a147ecd1a9946f78a827dcc4c82e31eece4650a789bbb3656cebe664?s=96&d=mm&r=g\",\"caption\":\"admin\"},\"url\":\"https:\\\/\\\/energybuzz.ph\\\/staging\\\/6915\\\/author\\\/admin\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"BSP sees April inflation at 3.5-4.3% - Energy Buzz","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/energybuzz.ph\/bsp-sees-april-inflation-at-3-5-4-3\/","og_locale":"en_US","og_type":"article","og_title":"BSP sees April inflation at 3.5-4.3% - Energy Buzz","og_description":"HEADLINE INFLATION may have accelerated further in April and possibly breached the 2-4% target, the Bangko Sentral ng Pilipinas (BSP) said.","og_url":"https:\/\/energybuzz.ph\/bsp-sees-april-inflation-at-3-5-4-3\/","og_site_name":"Energy Buzz","article_published_time":"2024-05-01T03:10:11+00:00","author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/energybuzz.ph\/bsp-sees-april-inflation-at-3-5-4-3\/#article","isPartOf":{"@id":"https:\/\/energybuzz.ph\/bsp-sees-april-inflation-at-3-5-4-3\/"},"author":{"name":"admin","@id":"https:\/\/energybuzz.ph\/#\/schema\/person\/344f8dbaaecf75e51367eef93f492892"},"headline":"BSP sees April inflation at 3.5-4.3%","datePublished":"2024-05-01T03:10:11+00:00","mainEntityOfPage":{"@id":"https:\/\/energybuzz.ph\/bsp-sees-april-inflation-at-3-5-4-3\/"},"wordCount":756,"publisher":{"@id":"https:\/\/energybuzz.ph\/#organization"},"keywords":["3.5-4.3%","april","bsp","bworldonline","inflation,","sees"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/energybuzz.ph\/bsp-sees-april-inflation-at-3-5-4-3\/","url":"https:\/\/energybuzz.ph\/bsp-sees-april-inflation-at-3-5-4-3\/","name":"BSP sees April inflation at 3.5-4.3% - Energy Buzz","isPartOf":{"@id":"https:\/\/energybuzz.ph\/#website"},"datePublished":"2024-05-01T03:10:11+00:00","breadcrumb":{"@id":"https:\/\/energybuzz.ph\/bsp-sees-april-inflation-at-3-5-4-3\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/energybuzz.ph\/bsp-sees-april-inflation-at-3-5-4-3\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/energybuzz.ph\/bsp-sees-april-inflation-at-3-5-4-3\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/energybuzz.ph\/staging\/6915\/"},{"@type":"ListItem","position":2,"name":"BSP sees April inflation at 3.5-4.3%"}]},{"@type":"WebSite","@id":"https:\/\/energybuzz.ph\/#website","url":"https:\/\/energybuzz.ph\/","name":"Energy Buzz","description":"","publisher":{"@id":"https:\/\/energybuzz.ph\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/energybuzz.ph\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/energybuzz.ph\/#organization","name":"Energy Buzz","url":"https:\/\/energybuzz.ph\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/energybuzz.ph\/#\/schema\/logo\/image\/","url":"https:\/\/energybuzz.ph\/staging\/6915\/wp-content\/uploads\/2023\/09\/EnergyBuzzLogo.png","contentUrl":"https:\/\/energybuzz.ph\/staging\/6915\/wp-content\/uploads\/2023\/09\/EnergyBuzzLogo.png","width":1315,"height":656,"caption":"Energy Buzz"},"image":{"@id":"https:\/\/energybuzz.ph\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/energybuzz.ph\/#\/schema\/person\/344f8dbaaecf75e51367eef93f492892","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/136dede3a147ecd1a9946f78a827dcc4c82e31eece4650a789bbb3656cebe664?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/136dede3a147ecd1a9946f78a827dcc4c82e31eece4650a789bbb3656cebe664?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/136dede3a147ecd1a9946f78a827dcc4c82e31eece4650a789bbb3656cebe664?s=96&d=mm&r=g","caption":"admin"},"url":"https:\/\/energybuzz.ph\/staging\/6915\/author\/admin\/"}]}},"_links":{"self":[{"href":"https:\/\/energybuzz.ph\/staging\/6915\/wp-json\/wp\/v2\/posts\/18543","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/energybuzz.ph\/staging\/6915\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/energybuzz.ph\/staging\/6915\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/energybuzz.ph\/staging\/6915\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/energybuzz.ph\/staging\/6915\/wp-json\/wp\/v2\/comments?post=18543"}],"version-history":[{"count":0,"href":"https:\/\/energybuzz.ph\/staging\/6915\/wp-json\/wp\/v2\/posts\/18543\/revisions"}],"wp:attachment":[{"href":"https:\/\/energybuzz.ph\/staging\/6915\/wp-json\/wp\/v2\/media?parent=18543"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/energybuzz.ph\/staging\/6915\/wp-json\/wp\/v2\/categories?post=18543"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/energybuzz.ph\/staging\/6915\/wp-json\/wp\/v2\/tags?post=18543"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}