Bangko Sentral ng Pilipinas estimates June annual inflation to range between 6% to 7%

MANILA - The Philippine inflation rate was likely to fall within a range of 6.0% to 7.0% in June, the Bangko Sentral ng Pilipinas (BSP) said on Tuesday (June 30, 2026), reflecting lower prices of major food items and higher electricity rates.

"The BSP will remain vigilant and guided by incoming data, particularly on inflation and growth prospects. It will continue to monitor recent developments in the Middle East for their implications for inflation and economic activity," the central bank said in a statement.

Annual inflation was 6.8% in May.

Meanwhile, in a separate report also on June 30, Reuters said more of the world's central banks plan to cut dollar allocations than increase them in the coming decade as political risks associated with the U.S. currency rise, an OMFIF survey of public investors released showed.

READ: More of the world's central banks plan to cut dollar allocations, survey says

It is the first time the survey, carried out by the Official Monetary and Financial Institutions Forum (OMFIF), has found such a shift away from the dollar.

The findings dovetail with a global debate about the U.S. dollar's role as the primary reserve currency that has been stoked by U.S. policy uncertainty and heightened geopolitical risks.

The London-based thinktank set up in 2010, also found an eagerness among the 90 central banks, public pension funds and sovereign funds surveyed to significantly increase the use of AI from current levels.

WANING DOLLAR AND GLITTERING GOLD?

There is no clear alternative to the dollar =USD and it has rallied 3% this year, driven by higher U.S. interest rates, a thirst for U.S. assets and a flight to safety sparked by the U.S.-Iran war.

However, some 79% of central banks, and 60% of public funds, believe the global monetary system is transitioning towards a "multipolar" world.

Currencies other than the top eight are gradually gaining ground among reserve assets. Central banks have sought to increase Norwegian crown NOK= and New Zealand dollar NZD= allocations and have also increased their interest in sterling GBP

Among public funds, demand for physical assets such as infrastructure and real estate outstripped other assets, with nearly 60% planning to increase allocation in the next one to two years.

The survey also showed a perception shift towards emerging markets, with 38% of global public funds planning to increase allocation to emerging economies, up from last year's 27%.

Interest in increasing emerging market allocation outstripped demand for increasing allocation to developed economies, which fell to 25% from last year's 47%.

The most attractive markets were the United States and China, in part driven by their role in the AI boom, the survey showed.

-Reporting by Karen Lema, Libby George; Editing by John Mair, Dhara Ranasinghe and Barbara Lewis/Reuters