MANILA, Philippines—The Bangko Sentral ng Pilipinas (BSP) projects inflation in April 2025 to remain low, likely settling between 1.3 to 2.1 percent.

The BSP, in its report, said the easing prices of rice, fish, fruits, and vegetables — supported by favorable domestic supply conditions — contributed to downward price pressures for the month. Lower oil prices and the recent appreciation of the peso also helped temper inflation, it said.

“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,” it said.

However, these may be partially offset by higher electricity rates and increased fares for the Light Rail Transit Line 1 (LRT-1).

The central bank said it will continue to take a measured approach in adjusting its monetary policy stance to support price stability, economic growth, and employment.

The projection comes as inflation eased for the third consecutive month in March, settling at 1.8 percent from 2.1 percent in February, according to the Philippine Statistics Authority. 

This brought the first quarter average to 2.2 percent, well within the government’s 2 to 4 percent target range. Inflation stood at 3.7 percent in March last year.