Inflation & Prices
Philippine Inflation May Accelerate to a 20-Month High on Iran War, BSP Says
Transport workers and activists take part in a protest as they stage a strike over surging fuel costs in Manila on March 27.
Photographer: Ezra Acayan/Getty Images
The raging war in Iran that caused domestic fuel prices to spike probably pushed this month’s inflation in import-dependent Philippines to the highest in nearly two years, according to the central bank’s forecast.
The Bangko Sentral ng Pilipinas said inflation in March likely accelerated to a range of 3.1%-3.9% due to higher fuel prices as well as costlier food and electricity and the depreciating peso. The projected midpoint of 3.5% would place the price gain at the fastest pace since hitting 4.4% in July 2024, according to data compiled by Bloomberg.