The country is still reeling from the effects of a 14-year high inflation rate of 11.4% but the Bangko Sentral ng Pilipinas (BSP) warned that prices may still rise and inflation might peak during the 3rd quarter of 2008.
The good thing, though, is that according to the BSP, it may come down starting the last quarter of the year and may continue until 2009.
“For the Philippines, we should be back to normal cycle by early next year,” says BSP Governor Amando Tetangco Jr. in an Inquirer interview.
For the rest of the year, us Filipinos might need to do some more belt-tightening while looking for additional sources of income.
Good luck to us.
