War escalation to cause PH inflation uptick – economist

PHILIPPINE headline inflation could hit as high as almost 5 percent this year if the Russia and Ukraine war escalates, an economist said on Thursday.

"Our base case for inflation is around 3.7 percent. However, with the present conditions, should the war in Ukraine escalate, inflation could probably move between 4.5 to close to 5 percent," Jonathan Ravelas, BDO Unibank chief market strategist and first vice president, said during an economic forum organized by the Philippine Chamber of Commerce and Industry.