Inflation soars to four-year high

INFLATION accelerated to 6.9 percent in September, the Philippine Statistics Authority (PSA) reported on Wednesday, the highest in four years, mainly driven by higher food prices.It was markedly higher than the 4.1 percent logged a year earlier.It brought year-to-date inflation to 5.1 percent, nearing the upper end of the 4.5 to 5.5 percent expected by the government for 2022.Prospects for further policy rate hikes were heightened…
Read More