Contrary to government officials’ and economists’ expectations, the Philippines’ inflation rate spiked to 8.7% in January 2023 instead of slowing down.
MANILA, Philippines –
The Philippine Statistics Authority reported on Tuesday, February 7, that the January figure is the highest since November 2008’s 9.1%. It is also nearly triple the 3% posted in January 2022, showing just how high prices have gone up in a year., when it climbed to a 14-year high of 8.1%.that the surprise January print “will make it difficult” for the Bangko Sentral ng Pilipinas “to justify not raising rates as inflation has not yet peaked.”The government’s economic managers aim for inflation to settle between 2.5% and 4.5% in 2023.on pork, rice, corn, and coal, which would in effect augment supply.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
P-Pop girl group CALISTA reacts to their 2023 love predictions | ATM Online ExclusiveHow would P-Pop girl group CALISTA react to their love and career predictions for this year? Get to know more about them in this video!
Read more »
LOOK: Annabelle McDonnell arrives in Vietnam for Miss Charm 2023The Miss Charm 2023 coronation night is set for February 16
Read more »
Miss Universe PH extends application deadline anew for 2023 pageantEXTENDED 👑 The Miss Universe Philippines organization has extended its application deadline again for the 2023 pageant! READ:
Read more »
Congress restores P1.56 billion for cancer funds in 2023 budgetFrom zero in the 2023 national budget, government funds for cancer have been restored to a total of P1.56 billion.
Read more »