PH sees 3-year high inflation rate as 2021 closes
The Philippines ended 2021 with a 4.5 per cent inflation rate, the highest the country has seen in three years.
As the inflation rate soared above the projected 2 – 4 percent prices of commodities including food and oil prices rose faster than manageable.
President Rodrigo Duterte’s economic team aimed for inflation to fall within 2 to 4 per cent. But since it only settled within the target band once in 2021, at 4 per cent in July, analysts did not expect the full-year figure to fall within desirable levels.
National Statistician Dennis Mapa said prices of meat, transportation, and fuel were the top drivers of inflation in the entire 2021.
Related news
- JTI-AMC bags PEZA Outstanding Employer Award · 5 Jan
- Multinational firms plan expansions in PH ecozones · 5 Jan
- Omicron could slow down PH economic growth · 5 Jan
Disclosure: Outsource Accelerator uses AI tools in the backend of its editorial workflow. Every article is reviewed and verified by a human editor before publication.
Stay ahead of the outsourcing industry. Join thousands of business leaders who rely on Outsource Accelerator for the news, trends, and expert insights that matter. Subscribe to our free newsletter and never miss an update.
