Philippine March inflation soars to 4.1% on oil price shocks from Middle East war

MANILA, Philippines — Inflation surged to 4.1 percent in March from 2.4 percent in February as the Middle East war caused oil price shocks and unprecedented local currency depreciation. The number exceeded the 2 percent to 4 percent target range of the inflation-targeting Bangko Sentral ng Pilipinas (BSP). It was also way above market consensus as