Philippine Inflation at 14-Year High Defies All Expectations
- Food, housing and utility costs jumped: statistics agency
- Risks have spread to various commodity groups: statistician
Consumer prices rose 8.7% in January from a year ago.
Photographer: Iya Forbes/BloombergThis article is for subscribers only.
Philippine inflation quickened to a fresh 14-year high, defying all expectations including that of the central bank’s and spurring bets of sustained policy rate increases to quell broadening price pressure.
Consumer prices rose 8.7% in January from a year ago, Philippine Statistics Authority reported on Tuesday. That compares with 8.1% in December and a median estimate of 7.6% in a Bloomberg survey. Bangko Sentral ng Pilipinas had forecast last month’s inflation at 7.5%-8.3%.