BSP sees June inflation to hit nine-year high


Posted at Jun 30 2008 05:36 PM | Updated as of Jul 01 2008 01:36 AM


The Bangko Sentral ng Pilipinas said on Monday it saw annual inflation in June coming in between 10.4 percent and 11.2 percent, the highest in at least nine-and-a-half years, on fuel price and wage increases.
Deputy Governor Armando Suratos said in a message to reporters that an increase in the prices of rice, fruit and vegetables and the depreciation of the peso were additional factors in the surge in inflation.

Annual inflation was 9.6 percent in May, the highest since 10.5 percent in January 1999.

June inflation will be announced on Friday.