Oil shock sends Philippine inflation surging to 4.1% in March

MANILA, Philippines — Inflation surged to a near two-year high of 4.1 percent in March as rising oil prices triggered by the Middle East war rippled across the country’s import-dependent economy. March’s inflation print was the highest since July 2024’s 4.4 percent and nearly double the 2.4 percent recorded the previous month, the Philippine Statistics Authority