Breaking news | Philippine annual inflation in December accelerated to the fastest pace since 2008 on higher food and energy prices, data showed on Thursday, supporting expectations of more interest rate hikes by the central bank this year. Read:
PHILIPPINE STAR/ MICHAEL VARCAS
The number brought the full-year average inflation rate to 5.8%, also a 14-year high and above the official 2%-4% target band. Core inflation, which strips out volatile food and energy components, rose to 6.9% in December from 6.5% in November.
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