Philippine Inflation Slows to 22-Month Low Amid Rice Price Spike.

Philippine inflation reached a 22-month low in December, with consumer prices increasing by 3.9% compared to the previous year. However, rice prices continued to rise, with rice inflation reaching its fastest pace since March 2009. The government may reduce the tariff on rice imports to help lower prices. The central bank stated that monetary policy will remain tight until a sustained decrease in inflation is observed, as risks to the inflation outlook, such as higher transport and power rates, oil prices, and food prices, persist. The BSP's key interest rate is currently at a 16-year high of 6.5%. [Extracted from the article]

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