INFLATION rose again for the eighth straight month, hitting 6.4 percent for the month of August and is regarded as the fastest rise in nearly 10 years.
Inflation last breached the six-percent mark in March 2009, when it reached 6.6 percent, according to Philippine Statistics Authority (PSA) data based on 2012 prices.
It also marked the sixth consecutive month that inflation exceeded the Bangko Sentral ng Pilipinas’ (BSP) 2-4 percent acceptable range.
With this development, the acceleration could prompt the bank to raise key interest rates for the fourth time this year when it reviews policy on Sept. 27, according to some economists.
BSP Governor Nestor Espenilla last month said inflation was expected to peak either in August or September and reiterated it would return inside the 2-4 percent target range next year.