Philippine Floods May Cause Spike in Food Prices, Tetangco Says
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The Philippines may experience temporary increases in food prices as a fifth of the Manila region remained under water today and rains battered some rice-producing provinces.
“We can expect some temporary spike in food inflation as there may also be some temporary disruption to the supply chain,” central bank Governor Amando Tetangco said in a mobile-phone message. “The impact of the rains over the past few days bears watching. The area affected by the rains is rather widespread.”