NEDA expects March’s inflation to slow down

Arsenio Balisacan, Secretary of the National Economic and Development Authority (NEDA), expressed his expectation that the inflation rate for March would not surpass the 3.4% recorded in February, citing recent economic trends. He emphasized his confidence that inflation would remain within the government’s target range of two to four percent. Notably, February saw an increase in inflation driven by higher costs in both food and transportation sectors.

Governor Eli Remolona Jr. of the Bangko Sentral ng Pilipinas (BSP) echoed these sentiments, foreseeing a marginal rise in March’s inflation to approximately 3.9%. This slight increase is attributed to base effects, although it remains lower than the 7.6% recorded in March of the previous year.

Meanwhile, the Development Budget Coordination Committee (DBCC) is scheduled to convene to review the country’s growth targets. Balisacan emphasized the importance of reassessing these targets in light of ongoing global economic challenges and the potential impacts of previous adjustments in interest rates.

The upcoming DBCC meeting reflects a proactive approach to economic planning, ensuring that growth targets are aligned with current realities and uncertainties in the global economic landscape.

Business News: NEDA expects March’s inflation to slow down