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Governor Diokno Sees June Inflation At +4.3% Y/Y

BSP

Bloomberg have circulated snippets from a statement from Bangko Sentral ng Pilipinas Governor Diokno, who says that the point-inflation CPI forecast for this month is +4.3% Y/Y.

  • Diokno notes that the combination of a weaker peso with higher fuel and power prices will likely be offset by softer costs of some key food items, caused by supply-side factors.
  • As a reminder, Philippine consumer prices rose 4.5% Y/Y every month since March, with the next update coming up next Tuesday. Bloomberg consensus forecast is in line with Governor Diokno's projection. The central bank's inflation target range is +2.0%-4.0% Y/Y.
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