Bangko Sentral ng Pilipinas Governor Amando Tetangco Jr. said Friday inflation likely slowed to as low as 0.9 percent in February from 1.3 percent in January, on lower food and gasoline prices.
“[The] February inflation could settle within the 0.9 percent to 1.7-percent range. The fall in rice, gasoline and LPG [liquefied petroleum gas] and provisional rollback in jeepney fares in certain regions are seen to dampen inflation pressures for the month,” Tetangco said in a text message.
“This February inflation forecast supports the within-target inflation outlook over policy horizon. BSP will continue to monitor price trends and take necessary measures towards its commitment of price stability,” Tetangco said.
Inflation decelerated to 1.3 percent in January from 1.4 percent in December. Average inflation in 2015 settled at 1.4 percent, below the government’s official target of 2 percent to 4 percent.