Inflation downtrend continues at 1.7% in August 2019

Aileen Cerrudo   •   September 5, 2019   •   1836

The inflation rate in the Philippines continued to decline at 1.7% in August 2019, according to the Philippine Statistics Authority (PSA).

The August 2019 rate is lower compared with the 2.4% inflation rate in June. This is also the lowest rate since October 2016 (1.8%).

According to National Statistician Dennis Mapa, the inflation downtrend is due to the slow increase of food prices, including non-alcoholic beverages.

He also said that the low fuel and rice prices also decreased since the implementation of the rice tariffication law.

Meanwhile, the Bangko Sentral ng Pilipinas (BSP) estimates that the inflation rate will continue to go lower this September.

“The latest inflation outturn is consistent with the Bangko Sentral ng Pilipinas’ prevailing assessment that it will continue to decelerate in the third quarter of 2019 and picky up slightly in the fourth quarter,” according to BSP Governor Benjamin Diokno in a statement.—AAC (with reports from Harlene Delgado)

BSP unveils new program to bolster rural banking industry

Maris Federez   •   June 18, 2021

MANILA, Philippines — ​The Bangko Sentral ng Pilipinas (BSP) has launched a program that aims to strengthen the rural banking industry in the country.

The BSP, on Friday, said the program is in recognition of its critical role in providing financial services in rural and agricultural communities.

“The Rural Banking Industry Strengthening Program (RBSP) is part of the BSP’s broader and continuing efforts to boost the resilience of the rural banking industry, which is a key agent of countryside development as it provides financial services to rural communities, including micro, small and medium enterprises,” said BSP Governor Benjamin E. Diokno.

The Inter-Agency Working Group (IAWG) on the RBSP headed by the Steering Committee composed of the BSP, the Department of Agriculture, and the Department of Trade and Industry, with Monetary Board Member (MBM) V. Bruce J. Tolentino as chair, will carry out the program.

“The BSP pursues the RBSP as we recognize the vital role that rural banks play in the areas of financial inclusion and inclusive economic growth,” said Tolentino.

The steering committee will be supported by a technical working group (TWG) mandated to formulate an action plan, including the development of a capacity-building program for RBs, and will be guided by senior advisers who will provide technical guidance in activities requiring research, data collection, analysis, and policy formulation.

The BSP said the Steering Committee and TWG will meet regularly over the next months and are expected to submit an initial package of proposed policies, programs, and reforms to the Monetary Board by the end of 2021. —/mbmf

PSA warns public against Facebook pages linked to bogus civil registry transactions

Marje Pelayo   •   June 16, 2021

MANILA, Philippines — The Philippine Statistics Authority (PSA) is warning the public against individuals offering bogus civil registry document transactions on Facebook.

In an advisory, the agency bars the public from transacting with the following Facebook accounts as owners behind it are using the agency’s name for unauthorized transactions:

1. Temporary PSA Correction By Charmaine
2. PSA Online Assistance Door to Door Delivery
3. NSO Certificate Process
4. PSA Online Delivery
5. 3J RTW Clothing and Document Services

These links appear in several posts of the PSA’s official page.

The agency warns that forging and faking official documents of the agency has corresponding penalties under the law.

PSA is currently working with other agencies to track the people behind the said scheme.

Accounts psaserbilis.com and psahelpline.ph are the only official and authorized partners of PSA in all of its transactions and any information regarding the agency may be accessed through psa.gov.ph.

PSA to release 200K national IDs; opens add’l 212 PhilSys registration centers

Maris Federez   •   June 14, 2021

MANILA, Philippines — The Philippine Statistics Authority (PSA) has released 200,000 national ID cards to Filipino citizens with another 200,000 cards ready for delivery.

Deputy National Statistician Rosalinda Bautista reported that a total of 35 million Filipinos have completed Step 1 of the registration process either through house-to-house collection or through the PSA’s Philippine Identification System (PhilSys) website.

The PSA also reported that 12 million Filipinos have completed Step 2 or the collection of biometric information.

The physical ID cards with unique PhilSys number will be delivered house to house.

Bautista warned the public against individuals who offer to help in the registration for the national ID for a fee, stressing that the ID is being given to the public for free.

Meanwhile, in an advisory released on Sunday (June 13), the PSA informed the public that PhilSys registration centers in additional 212 cities/municipalities are now open for online appointment booking starting June 12.

From the initial 14 pilot cities/municipalities as of 24 May 2021, there is now a total of 226 cities/municipalities with available online appointment booking for Step 2 Registration, the advisory said.

Registrants in the additional cities and municipalities can now set their appointment schedules for Step 2 online as early as 18 June 2021.

The advisory further said that those who have completed Step 1 Registration through house-to-house demographic data collection need not register online and book the appointment.

The PSA or the respective local government units will provide them with updates for the schedule of their Step 2 Registration.

Latest information on PhilSys is available on its official website www.psa.gov.ph/philsys, Facebook page www.facebook.com/PSAPhilSysOfficial/, or via the PhilSys Registry Office hotline number 1388 and e-mail (info@philsys.gov.ph). —/mbmf

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