World Business NewsA round up of the latest news for those doing business internationally
Philippine central bank says sees June annual inflation at 4.1-5.0%
Zone(s): Philippines ¦ Sector(s): Economy
[28 June 2014, The Business Times] From Manila: Philippine inflation in June may have hit the highest in more than two and a half years on higher food prices including rice, and rising transport fares and school fees, the central bank chief said on Saturday. Annual headline inflation this month is forecast to be anywhere between 4.1 and 5 per cent compared with 4.5 per cent in May, Bangko Sentral ng Pilipinas Governor Amando Tetangco told reporters via a mobile phone text message.The top end of the forecast would be the highest since October 2011 when the headline figure was 5.2 per cent. It is also the upper end of the average inflation target of 3 to 5 per cent this year.