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| Philippines inflation in biggest rise since April 2010 | Philippines inflation in biggest rise since April 2010 |
| (40 minutes later) | |
| Consumer prices rose more than expected in the Philippines, bringing inflation to its highest level in a year. | Consumer prices rose more than expected in the Philippines, bringing inflation to its highest level in a year. |
| The consumer price index rose by 4.5% in April from a year earlier, said the National Statistics Office. It was the highest gain since April 2010. | The consumer price index rose by 4.5% in April from a year earlier, said the National Statistics Office. It was the highest gain since April 2010. |
| Many analysts predict the central bank will now raise interest rates later on Thursday. | Many analysts predict the central bank will now raise interest rates later on Thursday. |
| Central banks in Asia have been trying to rein in rising prices without hurting economic growth. | Central banks in Asia have been trying to rein in rising prices without hurting economic growth. |
| The annual inflation in the Philippines in March was 4.3%. | |
| "Inflation resumed its acceleration in April," said Sherman Chan from HSBC. | |
| "This is hardly a surprise, given the strong inflationary pressures coming from food and oil recently." | |
| The central bank is meeting later to review its policy. | |
| "The report today clearly suggests that inflationary pressures remain, and strengthens the case for an expected 25 basis points hike by BSP [central bank Bangko Sentral ng Pilipinas]," said Vincent Tsui from Standard Chartered Bank in Hong Kong. | |
| While other Asian countries have raised interest rates in succession to try and control inflation as the global economy emerged from the financial crisis, the Philippines has only done so once, in March this year. | |
| By contrast, Thailand increased the cost of borrowing this month for the sixth time since July 2010. | |
| And India has raised rates nine times in 15 months. |