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Economic managers of the Marcos Jr. administration would likely temper the growth targets set by the Duterte government as boiling inflation spoils the country’s economic mood.
The latest inflation print fell within the Bangko Sentral ng Pilipinas' forecast of 5-5.8% in May.
Inflation in the Philippines likely sizzled and jumped above the upper end of central bank Bangko Sentral ng Pilipinas’ (BSP) two-to-four per cent target range of manageable price hikes last month.
The latest figures reinforce warnings from global debt watchers about the unabated growth of government debts.
Gross international reserves amounted to $107.98 billion as of end-February, up 0.26% month-on-month, the BSP reported on Tuesday.