Inflation up 3.7% in March, food to blame

The country’s inflation rate rose to 3.7 percent in March 2024, driven by higher food prices, according to the Philippine Statistics Authority on Friday. The March 2024 inflation of 3.7% is within the Bangko Sentral ng Pilipinas’ forecast range of 3.4% to 4.2%.

The BSP said the risks to the inflation outlook remain tilted toward the upside. Looking ahead, the Monetary Board will consider the latest inflationoutturn in its upcoming monetary policy meeting on April 8, 2024, the BSP said. As El Niño conditions persist and La Niña threatens the latter half of the year, the government is implementing strategic measures following a holistic approach to managing inflation.

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