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A renewed hike in local oil prices is unlikely to disturb the trajectory of inflation, which economic managers are assuming to remain within target in the next two years, according to the Bangko Sentral ng Pilipinas (BSP). BSP Governor Benjamin Diokno said in a statement that while global oil prices have been on an uptrend this year amid recovery in economic activity, the emergence of the Omicron coronavirus variant brought forward concerns over weaker demand prospects.
