'Economy, inflation at risk from Middle East conflict'

The intensifying conflict in the Middle East following the United States' airstrikes on Iran's nuclear sites may undo the Philippines' price stability gains and dampen economic growth, economists warned.

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Philippine Institute for Development Studies senior research fellow John Paolo Rivera told The STAR that the escalating conflict and US strikes on Iran's nuclear facilities could pose indirect, but significant economic risks to the Philippines.

“The most immediate concern is a potential spike in global oil prices, which would raise domestic transport and power costs feeding into inflation. This could reverse recent gains in price stability,” Rivera said.