Headline Inflation in the Philippines and the US
Inflation in the US
According to a survey conducted by the Cleveland Fed, inflation expectations among US business leaders decreased in the third quarter of 2024. This suggests that businesses are becoming more optimistic about the future of the economy and believe that inflation will not be as high as previously anticipated.
Inflation in the Philippines
In contrast to the US, the Philippines has been experiencing significant inflation. Headline inflation, which measures the overall change in prices for goods and services, increased to 44 percent in July 2024 from 37 percent in June 2024. This was followed by a further increase to 49 percent in October 2023, before slowing down slightly to 41 percent in November 2023.
The increase in inflation in the Philippines has been driven by a number of factors, including rising food and energy prices, as well as supply chain disruptions. The government has taken steps to address these issues, but it is likely to take some time before inflation returns to more manageable levels.
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