By Katherine K. Chan, Reporter
PHILIPPINE INFLATION could accelerate past 8% in the fourth quarter if a severe El Niño materializes, worsening supply disruptions and fueling broader price increases, Chinabank Research said.
In a report dated Oct. 13, the research firm said the “Super El Niño” could stoke inflation and further dampen the already fragile gross domestic product (GDP) growth.
“The Philippine economy, already facing weak growth and the fallout of the US-Iran energy shock, is confronting another potentially significant supply-side shock from an intensifying El Niño,” it said. “El Niño is not just an agriculture story — it is a potential second-round inflation shock and an additional drag on growth.”
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