The Bangko Sentral ng Pilipinas (BSP) is projecting April inflation to settle within the 1.3 percent to 2.1 percent range.

If the lower end of the projection is realized, the inflation rate will be lowest recorded since the 1.2 percent logged in November 2019.

"Easing prices of rice, fish, fruits, and vegetables, favorable domestic supply conditions, along with lower oil prices and the peso appreciation, contributed to the downward price pressures for the month," the BSP said in a statement on Wednesday.

The central bank, however, said these could be offset in part by the higher electricity rates and LRT-1 fares.

"Going forward, the Monetary Board will continue to take a measured approach in adjusting the monetary policy stance in line with its price stability objectives conducive to balanced and sustainable growth of the economy and employment," the BSP said.

Inflation decelerated to 1.8 percent in March from 2.1 percent in February this year.

April 2025 inflation data will be released by the Philippine Statistics Authority on May 6. 

PNA PHOTO