Philippines Inflation Surges to 87%
Headline Inflation Continues Upward Trend
The Philippines headline inflation, or overall inflation, increased to 38 percent in January 2023, according to the latest Summary Inflation Report Consumer Price Index 2018100 published by the Philippine Statistics Authority (PSA).
Consumer Prices Rise Sharply
The Consumer Price Index for All Urban Consumers (CPI-U) rose 05.5 percent from December 2022 to January 2023. Over the year ended March 2024, the CPI-U increased by 35 percent.
Conclusion
The surging inflation rate in the Philippines is a major concern for the country and its citizens. The rising prices of goods and services are putting a strain on household budgets and making it difficult for families to make ends meet. The government is taking steps to address the issue, but it remains to be seen whether these measures will be effective in bringing inflation under control.
Comments