Halister News

(Bloomberg) -- Philippines’ CPI probably rose at a faster pace in March as oil prices recover and food costs increase, according to economists’ forecasts.

• Consumer prices rose 1.1% y/y following a 0.9% gain in Feb., median est. in Bloomberg survey shows; ests. range from 0.9% to 1.3%; data due 9am local time tomorrow
• Department of Finance expects inflation to climb to 1.1% in March, Philippine Star reported on April 1
• Despite the expected pickup, inflation would still be below BSP’s target range of 2%-4% for the 11th straight month
• CPI hit a record low of 0.4% in Sept. and Oct. last year, according to data going back to 1994
• In Feb., prices rose less than median est. in Bloomberg survey, data released on March 4 showed
  • Peso strengthened 0.3% on that day to close at 46.955 per dollar; now at 45.970
• Brent crude oil futures for rose 8.3% last month to close at $40.33/bbl; now at $38.33