The peso’s weakness is expected to counter the impact of higher domestic inflation rate as the former can boost consumer’s spending power, especially those of overseas Filipino workers’ beneficiaries. Edge Davao
It, however, said “unlike other countries, the peso depreciation’s positive effects should mitigate a good part of consumer spending weakness dogged by high inflation.” The rate of price increases climbed to 6.1 percent last June from the previous month’s 5.4 percent, resulting in an average of 4.4 percent in the first half of the year.
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