Philippines Apr CPI Surges 7.2% YoY, Far Exceeding Expectations; Analysts See Rising Rate Hike Pressure in Jun
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The Philippines' Consumer Price Index (CPI) surged 7.2% YoY in April, driven by a 21% increase in transport prices, exceeding expectations. The CPI rose 2.6% MoM, the highest since January 2000. Analysts predict the Bangko Sentral ng Pilipinas may need to raise interest rates aggressively to combat inflation, with potential hikes exceeding 25 bps. The peso weakened to 61.6540 per USD, nearing its historical low, amid ongoing inflationary pressures linked to the Middle East conflict.
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