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Philippine inflation jumps to two-year high after Typhoon Haiyan

Published on Jan 7, 2014 11:56 AM
 
Survivors walk near their damaged house after super Typhoon Haiyan battered Tacloban city, central Philippines on Nov 9, 2013. Devastation caused by Super Typhoon Haiyan pushed inflation in the Philippines to a two-year high of 4.1 per cent in December, the government said on Tuesday. -- FILE PHOTO: REUTERS

MANILA (AFP) - Devastation caused by Super Typhoon Haiyan pushed inflation in the Philippines to a two-year high of 4.1 per cent in December, the government said on Tuesday.

Economic Planning Secretary Arsenio Balisacan said major food items rose across the board, especially in storm-hit areas.

Haiyan lashed the central Philippines in November, leaving 8,000 people dead and missing and more than four million homeless. It also destroyed key infrastructure, which led to gridlocks that resulted in artificial supply crunches, the government said.

"Almost all food items in the average consumer basket increased, which can be mainly attributed to the impact of Typhoon Yolanda (the local name of Haiyan)," Mr Balisacan said in a statement.

 
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