BSP says inflation average to return to target in 2024, 2025

June 5, 2024 - 10:30 AM
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Philippine peso
(Philstar/File Photo)

MANILA — The Bangko Sentral ng Pilipinas said on Wednesday that the inflation average will return to target in 2024 and 2025 even as risks to inflation outlook continue to lean toward the upside.

In a statement, the central bank said it will consider recent inflation data in its next rate-setting meeting. Inflation was at 3.9% in May, the statistics agency said earlier on Wednesday.

— Reporting by Mikhail Flores and Neil Jerome Morales; Editing by Martin Petty