INFLATION accelerated to 8.7 percent in January, the Philippine Statistics Authority (PSA) reported on Tuesday, blowing past expectations and adding pressure on monetary authorities to keep raising interest rates. The median forecast for January inflation among five analysts polled by The Manila Times was 7.6 percent and the Bangko Sentral ng Pilipinas (BSP) last week said that inflation could either slow to 7.5 percent or pick up to no more than 8.3 percent. It was the highest since November 2008's 9.1 percent. A year earlier, consumer price growth was just 3.0 percent. "Electricity and vegetables, particularly onions, were the top contributors to January inflation, each accounting for 1.1 percentage points (ppt)," the National Economic and Development Authority (NEDA) said in a statement.   https://www.manilatimes.net/2023/02/07/news/inflation-soars-to-87/1877602 (ICE SINGAPORE)

Fonte notizia: The Manila Times, 7 February 2023