Inflation to stay above 2% near term – DoF

THE country’s headline inflation rate could stay above the 2-percent mark in the near term as global petroleum prices start to rebalance following the decision of oil producing nations to cut output, the Department of Finance (DoF) said on Tuesday.

“Inflation [is] likely to clock in above 2.0 percent in the coming months as suggested by the core inflation of 2.5 percent in January. Rising energy prices will contribute to higher inflation,” Finance Undersecretary Gil Beltran was quoted as saying in a report to Finance Secretary Carlos Dominguez 3rd.