Philippine March inflation soars to 4.1% on oil price shocks from Middle East war

MANILA, Philippines — Inflation surged to 4.1 percent in March from 2.4 percent in February as the Middle East war caused oil price shocks and unprecedented local currency depreciation. The number exceeded the 2 percent to 4 percent target range of the inflation-targeting Bangko Sentral ng Pilipinas (BSP). It was also way above market consensus as well as the BSP’s own forecast for the month. The BSP expected an inflation rate for the month ranging between 3.1 percent and 3.9 percent amid the surge in energy costs and the pass-through effects of a weakening currency that has fallen to record lows. […]... Keep on reading: Philippine March inflation soars to 4.1% on oil price shocks from Middle East war

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