Philippine inflation hits 3-year high amid Middle East conflict

Philippine annual inflation accelerated to a ⁠three-year high in April, ⁠as a surge in fuel prices ⁠triggered by the Middle East conflict raises the chance of more policy tightening. Consumer prices rose 7.2 per cent last month, the statistics agency said on Tuesday, the highest since March 2023. That was above the 5.5 per cent median forecast in a poll of economists. The April print also breached