FIRST PERSON – Alex Magno – The Philippine Star November 5, 2022 | 12:00am The bad news is inflation could run even higher in the next few months. October’s 7.7 percent inflation rate is not unexpected. It is in line with inflationary trends worldwide. It is driven by the same factors driving inflation everywhere else: sharp spikes in energy prices, broken supply chains and chronic food shortages. This is the highest rate in 14 years. Much of what is driving it are external factors beyond our control. Much of the short-term responses to the inflationary spike – such as importing cheaper food s…