Philippine economic managers meet on rising fuel prices

Philippine economic managers will meet on Monday to discuss measures to mitigate the impact of rising fuel prices following Russia's invasion of Ukraine.

Inflation remained steady in February at 3 percent, but analysts predict it could rise due to tensions between Russia and Ukraine.

NEDA Undersecretary Rosemarie Edillon noted that while inflation was stable last month, oil price hikes have already affected households' electricity, gas, and private transport costs.

The meeting will involve NEDA, the Department of Finance, and Bangko Sentral ng Pilipinas to discuss immediate relief for vulnerable sectors and long-term solutions.