Inflation nears 10-year peak

Infographic by Pamela Ramos, ABS-CBN News

Posted at Sep 05 2018 06:52 PM

Inflation nears 10-year peak 1

Inflation smashed the 6-percent ceiling in August, contrary to forecasts by government economic managers and the market.

Food led the rise in the Consumer Price Index for the month, according to the Philippine Statistics Authority.

Faster than expected inflation puts pressure on the Bangko Sentral to raise interest rates for the fourth consecutive time when it meets later this month.