INFLATION is likely to have slowed to as low as 3.7 percent or marginally risen to 4.5 percent last month, according to the latest forecast of the Bangko Sentral ng Pilipinas (BSP).

In a statement on Thursday, the central bank said its Department of Economic Research projected the rate of the increase in the prices of goods and services in February “to settle within the 3.7-to-4.5-percent range.”