The Bangko Sentral ng Pilipinas (BSP) announced that headline inflation for May is likely to settle between 7.1% and 7.9%, citing persistent upward pressure from food costs and the weakening peso, according to a report by Philstar Biz .
Higher prices for key food items, alongside a weaker Philippine peso against the US dollar, remain the primary drivers of the elevated inflation forecast. The BSP’s projection suggests that inflation may stay above the government’s 2% to 4% target range for the month.
The central bank continues to monitor global commodity price trends and domestic demand conditions, which could affect the inflation trajectory in the coming months. The May figure will be confirmed when official data is released by the Philippine Statistics Authority.