The Bangko Sentral ng Pilipinas (BSP) is projecting June inflation to settle within the 1.1 to 1.9 percent range.

"Upward price pressures for the month are likely to be driven by higher meat and vegetable prices, elevated oil prices and the depreciation of the peso," the BSP said in a statement on Monday.

The BSP said these pressures could be partially offset by lower prices of rice, fish, and fruits, as well as lower electricity rates.

"Going forward, the BSP remains committed to safeguarding price stability by ensuring that monetary policy settings are conducive to sustainable economic growth and employment," it said.

Inflation settled at 1.3 percent in May this year, which is below the lower end of the government's 2 to 4 percent target range.

Official June 2025 inflation data will be released by the Philippine Statistics Authority on July 4.