South China Morning Post
International · 1 hrs ago
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Philippine inflation hits 3-year high amid Middle East conflict
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The Philippines experienced inflation of 7.2% in April, marking a three-year high, driven partly by fuel price increases related to Middle East tensions and exceeding both economist forecasts and central bank expectations.
Philippine inflation hits 3-year high amid Middle East conflict
Philippine annual inflation accelerated to a three-year high in April, as a surge in fuel prices triggered by the Middle East conflict raises the chance of more policy tightening.
Consumer prices rose 7.2 per cent last month, the statistics agency said on Tuesday, the highest since March 2023. That was above the 5.5 per cent median forecast in a poll of economists.
The April print also breached the central bank’s forecast range of 5.6 to 6.4 per cent for the month.
Emilio Neri, lead economist
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