The inflation rate is expected to decelerate further in March from a one-year low of 3.8 percent in February, enough to hit a three-month average that is within the target range of 2 percent to 4 percent, ING Bank Manila said Monday.
ING Bank senior economist Nicholas Mapa said the bank’s preliminary estimate showed that inflation would be lower in March.
“… For sure (inflation) will be lower than 3.8 percent. Even BSP (Bangko Sentral ng Pilipinas)’s forecasts point to 3.0 percent average for 2019 and 2020 and Deputy Governor Guinigundo indicates that inflation will continue to decelerate all the way until the fourth quarter given base effects and normalizing supply chains,” Mapa replied in a text message.
The government is scheduled to release the March inflation data next week.
Inflation in February further eased to a one-year low of 3.8 percent from 4.4 percent a month ago, pulled down mainly by slower increases in the prices of key commodities, especially food and beverages, the Philippine Statistics Authority said.