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The Philippines' consumer price inflation hit 8.1% year-on-year in December 2022, the fastest since 2008, and averaged 5.8% for the year, above the central bank's 2-4% target. Food prices, including rice up 3.4%, drove the December rise amid a weak peso and expensive fuel.
A weak peso and high fuel costs raise the landed cost of imported feed grains and meal in the Philippines. Central bank rate hikes may slow demand over time.
philstar.comRamon RoyandoyanJan 5, 2023After 43 past macro events, Rough Rice moved a median +0.5% over 5 sessions (56% higher; middle half -2.0% to +2.3%), and +1.6% over 20.
After 487 past bullish macro events, Crude Oil (WTI) moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
