February inflation in Philippines likely dropped to 2.6%

Inflation in the Philippines is expected to have decreased to 2.6% in February, down from 2.9% in January, according to a poll of economists. This decline is attributed to lower prices of rice and fuel. The Bangko Sentral ng Pilipinas (BSP) may consider cutting interest rates to support economic growth if inflation remains stable. The central bank's target range for inflation is 2 to 4 percent. While rice prices have fallen, higher vegetable prices, particularly onions, are a concern. The BSP kept the benchmark interest rate at 5.75% in its last meeting, despite market expectations for a cut.