Inflation forecasts hiked, legislative measures urged

Banking giant HSBC has raised its 2018-2019 inflation forecasts for the Philippines following August’s nine-year high, accompanying this with a warning that monetary policy tightening was not enough to mitigate above-target consumer price growth.

Legislative action, it said in a report released on Thursday, is “necessary” and the government should also consider temporary subsidies after inflation surged to 6.4 percent last month.