High inflation: Your P1 is now worth only 87 centavos

High inflation: Your P1 is now worth only 87 centavos

MANILA, Philippines—While President Ferdinand Marcos Jr. expressed disbelief at the June 2022 inflation rate announced by state statisticians, saying that “we’re not that high,” the Philippine Statistics Authority (PSA) declared that it “stands by its data.”

The PSA said on Tuesday (July 5) that the Philippines’ inflation rate hit 6.1 percent last month, the highest since the rice crisis in October 2018, when the inflation rate was 6.9 percent.

Read more: https://newsinfo.inquirer.net/1623432/high-inflation-your-p1-is-now-worth-only-87-centavos#ixzz7YKQoqqob
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