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The Bangko Sentral ng Pilipinas (BSP) projects May 2022 inflation to settle within the range of 5.0 to 5.8 percent.

The continued increase in domestic petroleum prices, higher prices of key food items, and peso depreciation are the primary sources of inflationary pressures during the month.

These could be offset in part by lower electricity rates in Meralco-serviced areas, decline in LPG prices, and lower rice prices.

Looking ahead, the BSP 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. BSP