Inflation seen to breach 4% as oil prices surgeStudent activists hold a demonstration along Taft Avenue in Manila against the continued implementation of excise taxes on oil on March 17, 2025. "Inflation would likely go up and could potentially breach above the 4% upper range of the BSP’s inflation target," Ricafort said in an interview with the Philippine News Agency. Ricafort said rising oil prices could trigger second-round effects, where higher transport and production costs lead to broader increases in consumer prices. "High oil/fuel prices would lead to higher fares, wages, and other prices of other affected goods and services," he said. Global oil prices have climbed close to $100 per barrel, with US benchmark West Texas Intermediate (WTI) at $98.32 as of posting time.

Source: Philippine Star March 22, 2026 02:02 UTC