The research arm of Frankfurt-based Deutsche Bank sees a “super” El Niño developing from this month until July, threatening to further accelerate the surge in Philippine consumer prices already aggravated by the Middle East war.
Deutsche Bank Research hiked its inflation assumption for this year to 6.5 percent from just four percent previously. This higher projection exceeded that of the Bangko Sentral ng Pilipinas (BSP) at 6.3 percent, which, if achieved, would mark an 18-year high since the 8.2 percent recorded at the height of the global financial crisis (GFC) in 2008. The German bank also revised its 2027 inflation forecast to 4.2 percent from 3.2 percent earlier. This is modestly slower than the 4.3-percent pace projected by the BSP.
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