The BSP Department of Economic Research projects February 2019 inflation to settle within the 3.7 � 4.5 percent range. Higher domestic oil prices and the upward adjustment in electricity rates provided upside price pressures to inflation during the month. These may be partly offset by lower prices of rice and other agricultural commodities given the appreciation of the peso and ample supply particularly of rice following the recent harvest and arrival of rice imports. Looking ahead, the BSP will continue to be watchful of evolving price trends to ensure that the monetary policy stance remains appropriate to maintaining price stability that is conducive to a balanced and sustainable growth of the economy and employment.

Source: Bangko Sentral ng Pilipinas (BSP)