With inflation expected to remain a concern in Asia and the Pacific, Moody’s Analytics expects monetary authorities in the region to continue raising interest rates until the middle of 2023.
In its Asia Pacific Economic Preview, Moody’s Analytics said many countries in the region, including the Philippines, Indonesia, and Thailand, saw higher prices which indicates that prices could remain elevated in the first few months of the year.
Commodity prices may remain elevated because of supply chain disruptions caused by the Russian invasion of Ukraine. However, Moody’s Analytics noted that the supply shocks have already eased in recent months. “Food prices, however, have the potential to remain high because of extreme weather conditions and elevated costs of labour and input material,” it added.
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