European trade group flags 'scary' inflation

ABS-CBN News

Posted at Sep 05 2018 04:33 PM

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MANILA – Faster than expected inflation is "scary" and businesses may have a hard time coping with rising costs while hiking their prices accordingly, the head of a European trade group said Wednesday.

Foreign investors can help tame food inflation by introducing automation in rice processing and storage, said European Chamber of Commerce president Guenter Taus.

Inflation hurtled to 6.4 percent in August, the fastest year-on-year increase in nearly 10 years.