MANILA, Philippines – The country’s inflation further eased in March as increases in prices of food and beverages slowed for the fifth month in a row, the Philippine Statistics Authority (PSA) reported on Friday (April 5).
Latest PSA data showed that the inflation rate in March decelerated to 3.3 percent, much slower than 3.8 percent recorded in February and the lowest since January 2018 at 3.4 percent.
The PSA said the slower pace of increases in goods and services was driven by lower costs of food and non-alcoholic beverages.
Downtrend in price increases in alcoholic beverages, tobacco; housing, water, electricity, gas and other fuels; furnishing, household equipment, and house routine maintenance; health, communication; and restaurant and miscellaneous goods and services were also noted by the PSA.
In a statement, Malacañang welcomed the slower inflation, promising that the slide would continue this year.
“We are confident that this slide would continue further for the rest of the year, as President Rodrigo Roa Duterte’s signing of Republic Act 11203 (Rice Tariffication Law) last February is expected to further ease inflation,” Presidential Spokesperson Salvador Panelo said.
“Our economic managers expect rice prices to go down and even cut inflation by 0.5 percent to 0.7 percent point this year,” he added.
Panelo also assured that the government will continue to look for ways to counter possible increase in prices of basic goods due to the effects of the El Niño phenomenon in the country.
“The Government, however, would not be complacent and has been vigilant in keeping a close watch on the prices of goods and commodities with the onslaught of El Nino, which may hamper food production,” he said.
The government also calls on the public to preserve water supply, not only in agriculture but also in daily consumption, “to increase our resiliency against this extreme weather phenomenon.”
The Bangko Sentral ng Pilipinas (BSP) also echoed Malacañang’s call.
“The latest inflation outturn is consistent with the BSP’s expectations that inflation will continue to settle within the target range for 2019 and 2020. However, the possibility of a stronger and prolonged El Niño episode together with the continued rise in global crude oil prices provide upside price pressures over the near term,” the BSP said in a statement.
The PH central bank also warned that a potential slowdown in economic activity amid the delayed passage of budget could pose some risks to inflation. – Robie de Guzman (with details from Rosalie Coz)
MANILA, Philippines – The Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF-MEID) has placed more areas under COVID-19 Alert Level 3 amid increasing COVID-19 cases, Malacañang said Wednesday.
In a statement, acting Presidential Spokesperson and Cabinet Secretary Karlo Nograles said the following areas will be under Alert Level 3:
Cagayan de Oro City
Agusan del Sur
The alert level designation in the said areas will take effect from January 14 until January 31, the Palace said.
All other provinces and cities not mentioned shall remain under their current alert level classification, it added.
Metro Manila, Cavite, Rizal, Bulacan, and Laguna are under Alert Level 3 until January 15.
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
MANILA, Philippines — Patuloy pang binubusisi ng Office of the President ang 2022 national budget kaya hindi natuloy ang nakatakda sanang ceremonial signing nito ngayong Martes.
Pagtitiyak ni acting Presidential Spokesperson at Cabinet Secretary Karlo Nograles, agad pipirmahan ni Pangulong Rodrigo Duterte ang P5.024 trilyong panukalang pondo oras na matapos ang ginagawang review.
“We would want to assure and we assure the public that the budget will be signed. Pipirmahan po ni Pangulong Duterte ang budget for 2022 bago pa man sumapit ang December 31,” ani Nograles.
Aniya, kailangang mapirmahan ang pondo upang matiyak na hindi mag-ooperate ang pamahalaan sa ilalim ng re-enacted budget sa susunod na taon.
Oras na mapirmahan din ang national budget, sinabi ng Malakanyang na maaari nang magamit ang pondo para sa Odette recovery efforts sa Enero. (mula sa ulat ni Correspondent Rosalie Coz)
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.