THE Bangko Sentral Pilipinas (BSP) said that they are expecting a flat or faster inflation print for the month of February.

According to the BSP, they predict the inflation rate to settle within the range of 2.8% to 3.6%.

Also, the central bank also said that the lower end of the forecast range is the same rate as January’s inflation rate of 2.8%, while the upper end is significantly higher than last month’s print.

“Continued price increases for key food items, such as rice, meat, and fish, along with increased petroleum prices and electricity rates are the primary sources of upward price pressures for the month,” the BSP said.

“Meanwhile, lower prices of vegetables, fruits, and sugar could contribute to downward price pressures,” the central bank added.

On the other hand, the BSP had noted that they will continue to monitor developments affecting the outlook for inflation and growth in line with its data-dependent approach to monetary policy decision-making.