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MBC Research projects higher inflation in February

February 26, 2004 - MBC Research expects a higher inflation rate (using the 1994 baseyear) of 3.5%-3.7% in February from 3.4% in January on account of higher food, fuel, and cement prices. Prices of pork went up due to the corn shortage and consumer shift from chicken, the demand for which has dampened. With rising crude prices abroad and a depreciating peso-dollar rate, pump prices of gasoline rose by P0.60 per liter, while prices of diesel and kerosene increased by P0.30 per liter. High cement prices could have pushed up the housing and repairs index.