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Philippines’ inflation soars to 14-year high, fueling expectations of more rate hikes

2022-12-07 09:35:14       source:CNBC

December 6, 2022

Philippines’ annual inflation data for November soared 8% year-on-year, marking the country’s highest inflation in 14 years as food prices soar, according to data from the Philippines Statistics Authority.

Its surge was driven primarily by costlier food prices.

Recent typhoons have hammered the production of crops like vegetables, rice and fruits, driving food prices higher.

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