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Philippines May inflation seen at 2.5-3.4pc

The Bangko Sentral ng Pilipinas (BSP) said on Thursday Philippine inflation this month would range between 2.5 percent and 3.4 percent on the back of easing oil prices as well as lower transport and utility rates.

BSP Governor Amando Tetangco Jr. said in a text message to reporters that inflation for May is expected to fall within the central bank target of 3 percent to 5 percent this year.

Tetangco pointed out that inflation this month could even be lower than the 3 percent average booked in April.