Consumer prices, which grew 4.5 percent in May are now seen almost certain to hit the upper boundary of the government’s 3-percent to 5-percent target band, despite central bank reassurances that recent spikes in food and transport costs were due to temporary rather than systemic factors.

A number of analysts surveyed by The Manila Times forecast that inflation in the third quarter will be near the 5 percent upper limit set for this year, largely driven by those same food price pressures.