ICYMI. For the entire 2022, inflation averages at 5.8%. The Philippines misses its target for the second straight year.
MANILA, Philippines – The Philippines’ inflation rate soared to 8.1% in December, the highest since November 2008, as Filipinos celebrated the holidays with even tighter budgets.
This is the second straight year that the Philippines missed its inflation target. In 2021, inflation averaged at 4.5%.December inflation was primarily brought about by the faster year-on-year growth rate of the following items:Housing, water, electricity, gas, and other fuels – 7%
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