Philippines inflation hits 20-month high as oil shock spreads
Philippine inflation surged to approximately 3.8% in March, the fastest pace in 20 months, as oil prices climbed 40% month-on-month and the peso hit record lows near 61 to the dollar. The central bank warned inflation could breach the 4% target ceiling, with every $10 oil increase widening the current account deficit by 0.3-0.4% of GDP. The World Bank estimates household incomes could fall 3.3% if oil stays 60% above 2025 levels, threatening the Philippines' energy-import dependent economy as Middle East supply disruptions persist.
Sources
- World Bank flags Philippine inflation shock amid Middle East war — Manila Bulletin
- Poll: Inflation likely hit 20-month high in March — BusinessWorld
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