Philippine inflation yet to peak; Feb high pegged at 9.3%

MANILA — Inflation in the Philippines may have accelerated yet again in February, with the month’s average expected to range between 8.5 percent and 9.3 percent, according to the Bangko Sentral ng Pilipinas (BSP), exceeding January’s fresh 14-year high of 8.7 percent.

With the rate of increase in prices of goods and services not yet peaking, the government’s fight against high inflation is seen dragging on to 2024, with the rate of change in prices of goods and services expected to go back to within the preferred range no earlier than late in 2023.

In a statement, the BSP said upward price pressures for February were expected to have come from higher LPG prices as well as higher prices of key food items like pork, fish, egg, and sugar.

On the other hand, lower prices for domestic petroleum, fruits and vegetables, chicken, and beef, u PAGE 4 a special non-working holiday, with the Department of Labor and Employment calling Saturday, February 25 just an “ordinary working day.”

“As we look back at this moment in our country’s history, we remind ourselves that despite the polarizing and divisive nature of our politics, it is our capacity for peace, unity and reconciliation that made us great and worthy of global acclaim as a people,” Marcos said in a statement released by the state-run