Manila, May 30 -- The country's headline inflation could reach 7.1 percent to 7.9 percent in May due to upward price pressures from key food commodities and exchange rate movements, the Bangko Sentral ng Pilipinas (BSP) said on Saturday.

In a statement, the BSP said the higher prices of rice, vegetables, and meat contributed to the upside risks to inflation during the month.

The central bank said that a weaker local currency also added to inflationary pressures.

These factors, it said, were expected to exert significant pressure on consumer prices.

"The BSP projects May 2026 inflation to settle within the range of 7.1 to 7.9 percent. Upside price pressures were driven by rising prices for rice, vegetables, and meat, as well as the dep...