Inflation in January accelerated further due to higher rental, electric and water rates as well as the continued rise in food and vegetable prices, according to data released by the Philippine Stat…
Inflation in January accelerated further due to higher rental, electric and water rates as well as the continued rise in food and vegetable prices, according to data released by the Philippine Statistics Authority on Tuesday.
Food inflation ballooned to 11.2 percent in January from 10.6 percent eh previous month, driven by the increase in vegetable prices at 37.8 percent from 32.4 percent in December. With inflation exceeding expectations, the BSP is seen to hike interest rates by at least 25 basis points, Neri said. Meanwhile, ING Bank Manila’s Senior Economist Nicholas Mapa said even a 50 bps hike is also now on the table for the central bank.
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