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Double whammy of record-low peso and high global oil prices to drive up inflation—IBON
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Double whammy of record-low peso and high global oil prices to drive up inflation—IBON
Research group IBON said that the all-time low peso and surging global oil prices are a double whammy that will double inflation in the coming months, hitting millions of poor Filipino families the hardest. The group stressed that claims that a weaker peso boosts exports and the peso value of remittances ignore the broader economic context and its real impact on households. The peso has recently breached Php60 to the US dollar, while global oil …
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