PHILIPPINE INFLATION climbed to a six-month high in March as food, utilities, and transport costs rose due to the spike in global oil prices after Russia’s invasion of Ukraine.
ation target band for 2022 but below the full-year forecast of 4.3%.ation this year could breach the upper end of its target band due to surge in global crude oil prices.ation will decline and settle within the target band at 3.6% by next year.ation expectations have likewise risen, but continue to be anchored to the 2-4% target band,” BSP Governor Benjamin E. Diokno said in a Viber message to reporters.
ation and growth, and remain vigilant against possible second-round effects from supply-side pressures or any shifts in the public’s inflation expectation,” Mr. Diokno said. PSA data showed inflation of heavily weighted food and non-alcoholic beverages picked up to 2.6% in March from 1.2% in February.
Meanwhile, the inflation as experienced by the bottom 30% income households — at constant 2012 prices — quickened to 3.3% last month from 2.7% in February, but lower than 5.5% in March 2021.The statistics agency targets to release the 2018-based inflation data for the bottom 30% by December 2022, as soon as itnishes conducting its commodity and outlet survey, National Statistician Claire Dennis S.
Security Bank Corp. Chief Economist Robert Dan J. Roces said in an e-mail interview that the continued rise in fuel prices may spill over to fares and wages.
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