Keisha B. Ta-asan
Record gasoline prices paired with unrelenting food and commodity costs are adding strain to Filipinos’ cost of living, suggesting that the BSP might have to increase rates further to slow economic growth.Crude oil prices have spiraled out of control amid concerns over supply since Russia invaded Ukraine on Feb. 24.
The minimum fare in traditional jeepneys rose to P11 nationwide starting Friday and to P13 for their modern counterparts. “Price pressures are largely supply side-driven, Nicholas Antonio T. Mapa, senior economist at ING Bank N.V. Manila, said in an e-mail, referring to the war in Ukraine and supply side chain disruptions. “But it is almost impossible to discount the emergence of demand side pressures.”
Source: Loan Digest (loandigest.net)
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