Inflation soars to 8.1% in Dec

By Eireene Jairee Gomez

Jan 05, 2023 10:06 am

(UPDATE) INFLATION rose to a year high of 8.1 percent in December, the Philippines Statistics Authority (PSA) reported on Thursday, putting monetary authorities under continued pressure to keep raising interest rates.

Last month's result — the highest since November 2008 — was marginally faster than November's 14-year high of 8.0 percent. It also did not breach the Bangko Sentral ng Pilipinas' (BSP) 7.8-8.6 forecast for the month but was well over the 3.1 percent recorded a year earlier.

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