April inflation likely eased to as low as 6.3% READ MORE:
The BSP expects the April inflation to settle within a range of 6.3 percent to 7.1 percent.
“Going forward, the BSP remains prepared to respond appropriately to continuing inflation risks in line with its data-dependent approach to monetary policy formulation,” it said.Inflation averaged 5.8 percent last year, surpassing the target range of 2 percent to 4 percent. It reached a 14-year high of 8.7 percent in January before easing to 8.6 percent in February and 7.6 percent in March. Despite the slowdown, inflation remained elevated and one of the stickiest in the region.
Other measures proposed by NEDA are the prepositioning of rice buffer stocks during El Niño; strengthening the implementation of biosecurity and hog repopulation programs; improving and expanding the Kadiwa program to directly connect producers and consumers; and fast-tracking the distribution of targeted subsidies to farmers and fisherfolks.
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