Philippine consumer prices increased at a steady pace in April, data from the Philippine Statistics Authority showed on Wednesday.
Consumer price inflation remained at 4.5 percent, while economists had forecast the rate to rise to 4.7 percent. In the same period last year, inflation was 2.2 percent.
The bank aims to keep inflation between 2 percent and 4 percent range.
Rising cost of housing, water, electricity and other fuels, and health, transport and communication contributed to higher inflation.
Excluding selected food and energy, core inflation decelerated to 3.3 percent in April from 3.5 percent in the previous month, data showed.