MANILA: Seven per cent inflation in the Philippines could be around the corner.
More than half a million tonnes of paddy rice were wiped out by Super Typhoon Mangkhut last weekend, adding pressure to rice prices which are already at a record. Michael Enriquez, chief investment officer at Sun Life of Canada Philippines Inc, forecast inflation of as high as 7% in September, from 6.4% last month, which was the fastest pace since 2009.
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