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The BSP Department of Economic Research projects May 2020 inflation to settle within the 1.9 – 2.7 percent range.
Higher domestic oil prices as well as the uptick in the prices of various agricultural products due to supply bottlenecks and the impact of typhoon Ambo contributed to positive price pressures during the month.
Meanwhile, the electricity rates in Meralco-serviced areas declined during the month despite the reported increase in the total electricity bill due to higher consumption.
Moving forward, the BSP will remain watchful of economic and financial developments, and stand ready to take necessary policy actions to ensure the delivery of its primary mandate of price stability. (BSP)
