MANILA: The Philippines inflation hit the highest level in six months in March, exceeding market forecasts, but while the central bank warned of further price pressures ahead it did not anticipate a need for monetary policy intervention for now.
The Consumer Price Index rose 4.0% last month from a year earlier, faster the 3.7% median forecast in a Reuters poll and near the upper end of the central bank’s projected range of 3.3% to 4.1% for the month.The Philippine Statistics Authority has yet to release core inflation figures calculated using a new 2018 base year.
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