June 2024 saw an inflation rate of 3.7 percent, within the BSP’s forecast range of 3.4 to 4.2 percent.
In a statement, the BSP noted that while lower rice tariffs have shifted the balance of inflation risks downward for 2024 and 2025, higher prices of other food items, transport charges, and electricity rates still pose significant upside risks.
The central bank said its policy making Monetary Board emphasized the importance of this tariff reduction in addressing supply-side pressures and maintaining the disinflation trend.
The BSP reiterated its commitment to ensuring that monetary policy settings continue to support price stability, fostering sustainable economic growth.
