Stronger manufacturing data from China pushed the euro to a seven-month high against the dollar Friday. Traders also sold the dollar after a report showed that U.S. inflation has remained mild, leading traders to anticipate that the Federal Reserve will keep interest rates low.
The prices of basic commodities stayed generally stable and within the suggested retail price, the Department of Trade and Industry (DTI) said Thursday.
The devastating monsoon rains that paralyzed most of Luzon and parts of the Visayas this week are seen to cause a disruption in the supply of some agricultural products and, therefore, a temporary spike in food prices.
The increase in food prices may accelerate this month given the devastation to some agricultural areas caused by Typhoon Gener, but overall inflation is likely to remain within expectations.
