Malacañang believes downhill inflation to continue until end of year

Maris Federez   •   August 6, 2019   •   1040

The country’s inflation rate in July has gone down to 2.4%, according to the latest Philippine Statistics Authority (PSA) report.

This is lower compared with the 2.7% inflation rate in June and 5.8% in July of last year.

This is also the lowest since January of 2017, which was in the forecast of the Bangko Sentral ng Pilipinas (BSP) to be in between 2 and 2.8%.

According to National Statistician Claire Dennis Mapa, a price reduction of food and non-alcoholic beverages; decrease in housing, water, electricity, gas, and other petroleum products rates; and decrease in transport rate contributed to the slowing down of the country’s inflation.

Across regions, Region 7 recorded the lowest inflation so far with 1.1 %, while Mimaropa registered the highest with 4.9%, which was attributed to the high expense in transportation.

Meanwhile, the Bangko Sentral ng Pilipinas (BSP) is confident that the slowing down of the country’s inflation will continue for the rest of the year, and will achieve its target range of 3% for the whole year and on to the next.

In its statement released on Tuesday (August 6), the BSP said, “the inflation rate of 2.4 percent for July 2019 is consistent with the BSP’s prevailing assessment that inflation will continue to decelerate in Q3 2019 before firmly settling within the target range of 3.0 percent ± 1.0 percentage point for 2019 and 2020.”

Malacañang shares the agency’s confidence.

Presidential spokesperson Atty. Salvador Panelo said, “this is indicative of the hard work and strong political will of the President and our economic managers in reining in on the soaring prices of basic goods and services.”

“Filipino consumers can rest assured that the Duterte Administration will continue to work tirelessly in implementing macro-economic policies which will have a positive impact that can be felt by our nation,” Panelo added. (with details from Harlene Delgado) /mbmf

Inflation rate goes down to 3.6% in December 2021

Maris Federez   •   January 5, 2022

MANILA, Philippines — The country’s inflation slowed down to an 11-month low of 3.6 percent in December, the Philippine Statistics Authority (PSA) reported on Wednesday.

In a virtual briefing, National Statistician and Civil Registrar General Dennis Mapa said the inflation has slowed down from the 4.2 percent recorded in November last year. However, this was still higher than the 3.5 percent recorded in December 2020.

The latest inflation figure brought the year-to-date figure to 4.5 percent which is above the government’s target of 2 to 4 percent.

Mapa said the December decelerated inflation was due to the slow movement of the price of food and non-alcoholic beverages.

“The main source of the downward trend of the December 2021 overall inflation was primarily brought about by the slower annual increase in food and non-alcoholic beverages at 3.1 percent in December 2021, from 3.9 percent in November 2021,” he said.

Mapa also noted that the onslaught of Typhoon Odette in Southern Luzon and the Visayas and Mindanao has not affected the prices of goods.

“Sa datos na nakita namin, kanina nireport ko, inflation outside the National Capital Region bumaba ang pesyo ng gulay e. So, hindi naman nagkaroon ng malaking epekto yung bagyo,” Mapa said.

“Of course, we will check regional data. Pero bumaba ang inflation due to reduction of food price. May nakita kaming pagtaas ng meat products, siguro because of the holidays, pero sa ibang products hindi tumaas talaga,” he added. —/mbmf

PhilSys registers 50 million Filipinos; hits target for 2021

Maris Federez   •   December 15, 2021

MANILA, Philippines — More than 50 million Filipinos have successfully registered in the second step of the national identification system.

In a statement released Tuesday (December 14), the Philippine Statistics Authority (PSA) announced that it has successfully achieved its registration target this year as 50,014,382 Filipinos completed their Philippine Identification System (PhilSys) Step 2 Registration as of 11 December 2021.

The PSA said the Step 2 Registration, which involves validating supporting documents and collecting biometric information, began in January 2021 in 32 priority provinces that were considered low-risk areas for Coronavirus disease 2019 (COVID-19).

Despite the pandemic, the PSA said that it was able to expand operations to more cities and municipalities nationwide.

“The PSA salutes all those who contributed to this milestone for the PhilSys Step 2 Registration,” said National Statistician and Civil Registrar General, Usec. Dennis S. Mapa.

“Notwithstanding the pandemic and the restrictions that came with it, the PSA—together with its field offices, partner agencies, and key stakeholders—worked relentlessly to ensure that more Filipinos can begin registering for their PhilIDs,” he added.

Meanwhile, for Step 3 Registration, the PSA is continuously working to speed up the issuance of the PhilSys Number (PSN) and the delivery of Philippine Identification (PhilID) cards to registrants.

The printing and issuance of the ID card are in partnership with the Bangko Sentral ng Pilipinas (BSP) for the card production, and the Philippine Postal Corporation (PHLPost) for door-to-door delivery.

The PSA said that based on the December 10 record, 4,414,393 Filipinos have already received their PhilID cards.

These cards will soon have a digital version through the soon-to-be-launched PhilSys mobile app. Registrants can already use this alternative while waiting for their actual PhilIDs, the national statistics office said.

“We remain steadfast in our efforts to continue registering the general population. This coming 2022, the PSA hopes to establish partnerships with more government agencies and private groups to provide Filipinos, resident aliens, and even Overseas Filipinos the convenience of PhilSys registration,” said Assistant Secretary Bautista, Deputy National Statistician of the PhilSys Registry Office (PRO).

For the latest on PhilSys, the public may be reached through the official PhilSys website (https://philsys.gov.ph) or Facebook page (www.facebook.com/PSAPhilSysOfficial/), the PhilSys Registry Office via hotline number 1388 or e-mail at info@philsys.gov.ph. –/mbmf

Phl inflation slows down in November — PSA

Maris Federez   •   December 7, 2021

MANILA, Philippines — The inflation rate in the country slowed down in November, the Philippine Statistics Authority reported Tuesday (December 7).

The PSA said the country’s inflation “continued to exhibit a slower pace as it eased further to 4.2 percent in November 2021, from 4.6 percent in October 2021”.

The average inflation from January to November 2021 remained at 4.5 percent. Inflation in November 2020 was posted at 3.3 percent.

The reason behind the downtrend in the overall inflation in November 2021 was the slow movement in the price index of food and non-alcoholic beverages at 3.9 percent inflation.

“Ang dahilan ng pagbagal ng antas ng inflation nitong  Nobyembre 2021 ay ang mas mabagal na paggalaw ng presyo ng food and non-alcoholic beverages na may 3.9 % inflation at  93.2 % share sa pagbaba ng pangkalahatang inflation sa bansa,” PSA national statistician Dennis Claire Mapa said.

In addition, lower inflation was also recorded in the price of alcoholic beverages and tobacco at 7.5 percent, and furnishing, household equipment, and routine maintenance of the house at 2.4 percent.

A downward trend was also registered in the inflation for food index as it slowed down further to 4.1 percent in November 2021, from 5.6 percent in the previous month.

By specific food item, the annual growth rate of vegetables dropped by -1.8 percent during the month, after posting a double-digit annual increase of 11.4 percent in October 2021.

Moreover, annual increases in the indices of meat and fish, slid at 10.7 and 7.9 percent, respectively.

However, on a month-on-month basis, both meat and pork recorded positive inflation at 2.4 and 4.2 percent, respectively.

“Pork prices continuously went down month-on-month from July to early-October. This means that our policy to temporarily import pork has been effective. However, the uptick in prices in November shows that we need to further ease administrative requirements for the unloading and distribution of stocks to encourage more importation and help bring back pork prices to their pre-African Swine Fever level,” Socioeconomic Planning Secretary Karl Kendrick T. Chua said.

On the other hand, the PSA also noted that non-food inflation slightly rose to 4.1 percent from 3.8 percent for the same period.

This was caused mainly by high international crude oil prices, which drove up transport inflation to 8.8 percent from 7.1 percent.

Slight increase in inflation was also reflected in housing, water, electricity, gas, and other fuels at 4.6 percent from 4.4 percent. —/mbmf

REACH US

The Philippine Broadcast Hub

UNTV, 915 Barangay Philam,

EDSA, Quezon City M.M. 1104

(+632) 8396-8688 (Tel)

info@untv-newsandrescue.com (General inquiries)

ABOUT UNTV

UNTV is a major TV broadcast network with 24-hour programming. An Ultra High Frequency station with strong brand content that appeal to everyone, UNTV is one of the most trusted and successful Philippine networks that guarantees wholesome and quality viewing experience.