As Oil Prices Surge, Filipinos Feel the Impact of a Distant Conflict

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Inflation or the rate of increase in the price of goods and services in the country is likely to hit 3.1 to 3.9 percent this March. According to the Bangko Sentral ng Pilipinas (BSP), this is the effect of a large-scale oil price hike, more expensive rice, electricity bills, and a weakening of the peso. Despite this, the BSP said that the expected decrease in the prices of vegetables, fish, and meat may also have an impact to alleviate inflation…