Manila, May 1 -- Inflation likely continued to settle below 2 percent in April due to lower food prices, an economist has said.

In a Viber message Thursday, Rizal Commercial Banking Corporation chief economist Michael Ricafort said inflation is projected to further decelerate to 1.6 percent in April from 1.8 percent last March.

"The initial implementation of the maximum suggested retail price of imported rice on January 20, 2025, the declaration of a food security emergency on February 3, 2025, as well as world rough rice prices at the lowest in more than three years, could all help further reduce local rice prices, which account for about 9 percent of the inflation, and also support benign inflation," Ricafort said.

The economist said...