A truckload of rice is being delivered to a local distributor in Dumaguete City, Negros Oriental in this undated photo. The Bangko Sentral ng Pilipinas on Friday (May 30, 2025) said easing prices of rice and fish helped further lower inflation in May. (PNA photo by Mary Judaline F. Partlow)The Bangko Sentral ng Pilipinas (BSP) expects inflation for May 2025 to range from 0.9% to 1.7%.
If the lower end of that forecast is met, it would mark the slowest inflation rate since October 2019, when inflation stood at 0.6%.
According to the BSP, downward pressures on prices were driven by easing costs of rice and fish amid favorable local supply conditions. Lower oil prices, reduced electricity rates, and a stronger peso also contributed to the slowdown.
However, the central bank noted that rising prices of vegetables and meat could partially offset these gains.
Looking ahead, the BSP emphasized that its Monetary Board will maintain a cautious and data-driven approach in adjusting monetary policy, aiming to support stable prices while fostering balanced and sustainable economic growth and employment.
In April 2025, inflation dropped to 1.4%, the lowest level recorded since November 2019.
The Philippine Statistics Authority is set to release the official inflation figures for May on June 5.