Shoppers flock to Divisoria in Manila. — PHILIPPINE STAR/RYAN BALDEMOR
By Katherine K. Chan, Reporter
PHILIPPINE INFLATION likely hit its fastest pace in over three years as elevated oil prices amid the ongoing Middle East war drove up food costs and kept the peso weak against the dollar, analysts said.
The headline print may have accelerated to 7.9% last month from 7.2% in April and 1.3% a year earlier, according to a median estimate of 16 economists polled by BusinessWorld.
If realized, this would be the fastest inflation recorded in over three years or since the 8.6% in February 2023.
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