High inflation is back

MANILA: Quickening growth in prices will prompt the Bangko Sentral ng Pilipinas (BSP) to finally raise policy rates by a total of 75 basis points (bps) this year, but still not until the second semester, according to Fitch Solutions.

BSP governor Benjamin Diokno acknowledged that high inflation was indeed “back with a vengeance,” but said growth in prices in the Philippines was “more manageable” compared to some other countries.