This anticipated increase is attributed to potential adverse weather impacts on agricultural production and positive base effects, the central bank said in a statement.
Upside risks, including higher transport fees, food prices under supply pressure, climbing electricity rates, escalating global oil prices, and the potential implementation of a minimum wage hike, could further fuel inflation.
As the BSP prepares for its next policy meeting on April 8, 2024, it remains committed to collaborating with the National Government on non-monetary interventions to mitigate price pressures and continue the disinflationary trend, the monetary regulator said.
