cdn mobile

Inflation hits new 9-year high in August

By: Jose Santino S. Bunachita September 05,2018 - 03:30 PM

 

Inflation has reached a nine-year high of 6.4 for the month of August, the Philippine Statistics Authority (PSA) announced.

The Bangko Sentral ng Pilipinas (BSP) still attributed the increase to problems on rice supply as well as increase in worldwide oil prices.

In order for businesses to cope, Steven Yu, vice president for external affairs of the Mandaue Chamber of Commerce and Industry (MCCI), said the business sector should improve their productivity.

But he said they hope the BSP will not tighten their monetary policy again.

Meanwhile, economist Perry Fajardo said that consumers will just have to tighten their belts even more since the poor are the ones greatly affected by inflation.

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

Read Next

Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of Cebudailynews. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.

TAGS: 9, August, high, Hits, inflation, new, YEAR
Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our newsletter!

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

This is an information message

We use cookies to enhance your experience. By continuing, you agree to our use of cookies. Learn more here.