KONTAN.CO.ID - MANILA. Philippine annual inflation in December accelerated to the fastest pace since 2008 on higher food and energy prices, data showed on Thursday, supporting expectations of more interest rate hikes by the central bank this year. Last month's inflation figure was slightly below the 8.2% median forecast in a Reuters poll, but within the central bank's 7.8% to 8.6% forecast for December. The number brought the full-year average inflation rate to 5.8%, also a 14-year high and above the official 2%-4% target band.
Philippine December Inflation at 14-Year High as Food Prices Jump
KONTAN.CO.ID - MANILA. Philippine annual inflation in December accelerated to the fastest pace since 2008 on higher food and energy prices, data showed on Thursday, supporting expectations of more interest rate hikes by the central bank this year. Last month's inflation figure was slightly below the 8.2% median forecast in a Reuters poll, but within the central bank's 7.8% to 8.6% forecast for December. The number brought the full-year average inflation rate to 5.8%, also a 14-year high and above the official 2%-4% target band.