Oil Shock Sends Philippine Inflation Surging to 20-Month High

The Philippines’ inflation spiked in March to the highest in nearly two years as the Iran war choked energy supply and pushed up fuel prices.

Consumer prices rose 4.1% last month from a year ago, the Philippine Statistics Authority said on Tuesday. That exceeded the median estimate of 3.8% in a Bloomberg News survey and the 2.4% recorded in February.