Philippine Inflation Seen to Breach Target, Defer Rate Cuts
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Philippine inflation will likely breach the 2%-4% target range through the third quarter on the back of higher food and fuel prices, potentially delaying any monetary easing from the central bank this year.
The Bangko Sentral ng Pilipinas said on Friday that price gains could temporarily accelerate above 4% in the next two quarters as adverse weather conditions hit farm output and stoke food costs. Rising oil prices could push up transport fares, while minimum wage may also increase, it said in a statement after inflation quickened for a second month in March to 3.7%.
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