The escalation in prices of basic goods and services, otherwise known as inflation, remained stagnant at 4.5% in April as the Philippine government reimposed the strictest lockdown restrictions over the NCR Plus area.
According to data from the Philippine Statistics Authority showed on Wednesday, inflation remained unchanged at 4.5% for the month of April, the same as that posted in March, but quicker than 2.2% a year prior.
The inflation rate in April is within the 4.2% to 5.0% forecast range of the Bangko Sentral ng Pilipinas (BSP) for the month.
BSP Governor Benjamin Diokno previously said lower prices of local petroleum products and key food items on improved supply conditions may drag down last month’s price pressures.
However, increased power rates, worsened by surge in prices of pork, fish, and rice, may “partly offset” these factors.
