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The Bangko Sentral ng Pilipinas projects on Friday June inflation to settle within the range of 3.4 to 4.2 percent.

For May, inflation reached 3.9 percent, which is the upper end of the government's 3-4 percent target.

Increases in the prices of agricultural commodities like rice, vegetables, meat, and fish, along with the peso depreciation and higher domestic oil prices, are the primary sources of upward price pressures for the month, the BSP said.

Meanwhile, lower electricity rates and fruit prices could contribute to the deceleration in inflation. BSP