THE BSP projects January 2023 inflation to settle within the range of 7.5 to 8.3 percent.
Upward price pressures for the month are expected to emanate from higher electricity rates, approved water rate rebasing, higher domestic petroleum prices, uptick in the prices of key food items, and the annual increase in sin taxes.
Meanwhile, the reduction in LPG prices as well as the peso appreciation could contribute to easing price pressures for the month.
The BSP will continue to adjust its monetary policy stance at the necessary pace to prevent the further broadening of price pressures and monitor emerging price developments closely in accordance with the BSP’s price stability mandate.
