00:00The Philippine Statistics Authority reports,
00:03inflation in the country skyrocketed to a three-year high of 7.2% in April.
00:08This as the oil shock continues to push fuel and food prices higher.
00:12This is nearly double March's 4.1% inflation and more than five times higher than the 1.4%
00:18recorded a year ago.
00:19It is also the highest inflation rate since March 2023,
00:23and the increase is the largest since the one from December 1993 to January 1994
00:27when inflation jumped from 7.4% to 12.8%.
00:31The latest data puts the 2026 average inflation at 3.9%,
00:36near the top of the government's 2-4% target range.
00:39Food prices, particularly the cost of rice and fish,
00:43are among the main drivers of the faster inflation rate in April.
00:46The Banco Central ng Pilipinas earlier said inflation could rise to 5.6% to 6.4%
00:52as higher fuel costs drive up food and electricity prices.
00:57which is critical energy prices in casualty than 181%.Hello
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