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Economics

There's an Inflation Crisis Brewing in the Philippines

Police are monitoring prices, import rules may be eased
ING sees another 50 basis-point interest-rate hike in Sept.

The Legazpi Sunday Market in the Makati district of Manila. — Photographer: Hannah Reyes Morales/Bloomberg

By

Siegfrid Alegado and

September 12, 2018, 9:00 PM UTCUpdated onSeptember 13, 2018, 3:40 AM UTC

Filipinos queuing for hours to buy cheap rice from the government. Families eating fewer meals a day to save money. Locals venting their anger against President Rodrigo Duterte on social media.

These are the images and stories that have dominated media coverage in the Philippines after inflation soared to more than 6 percent in August, far higher than the rest of Asia.