The Philippines’ inflation rate in June may have risen at a faster pace than the previous month’s record high of at least five years due to continued increases in the prices of basic commodities, especially rice, central bank economists said on Friday.
In a statement, the Bangko Sentral ng Pilipinas’ Department of Economic Research said it expects the country’s inflation rate to rise to as high as 5.1 percent this month, but may also come in as low as 4.3 percent, based on the 2012 price base.
The unit — whose output guides the central bank’s Monetary Board in setting interest rate policy — said price hikes in basic goods were mitigated by reductions in other sectors.

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