The Philippine Statistics Authority (PSA) on Thursday reported that the December inflation rate has ballooned to 8.1%.
It’s no wonder that Filipinos during the holidays dealt with higher prices.
The PSA data showed that inflation climbed to 8.1% last month, faster than the 8% recorded in November.
The December inflation rate is within the 7.8% to 8.6% forecast range of the Bangko Sentral ng Pilipinas (BSP).
Last month, the Philippine central bank said that the inflation would remain hotter in December due to rising prices of power and agricultural products.
However. it also noted that the slash in prices of petroleum and rice, as well as the strengthening of the Philippine peso, during the period might ease inflationary pressures.