Overall inflation in the Philippines may have eased for the sixth month in a row in July and settled within the range of 4.1 percent to 4.9 percent, according to the Bangko Sentral ng Pilipinas. | RonWDomingoINQ /PDI
After raising the policy rate by a total of 4.25 percentage points from a historic low of 2 percent to 6.25 percent in March, the Monetary Board of the BSP made no changes in two consecutive policy meetings held in May and June.
The analysis covers the Philippines, Indonesia, Malaysia, Thailand, Singapore, Brunei, Cambodia, Laos, Myanmar and Vietnam, as well as China, South Korea and Japan. “In fact, global and domestic retail food prices remain high by historical standards—world food price indices reported by the Food and Agriculture Organization, International Monetary Fund, and World Bank are still 30 to 50 percent higher than their 2018–19 prepandemic averages, while food prices in the Asean+3 are 10 to 20 percent higher,” Amro said.Subscribe to our daily newsletter
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