By Michelle Remo

MANILA, Philippines--AFTER STAYING well below target last year, inflation is expected to break into the 4-percent territory this year amid soaring oil prices in the world market.

In its 2008 outlook, think tank Global Source said the inflation rate would hit an average of 4.1 percent this year. This is still within the government's official target range of 3 percent to 5 percent.

Last year, the average inflation rate was 2.8 percent, well below the official target of 4-5 percent.

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