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(Eagle News)–Several senators on Thursday, Aug. 9, called on economic managers to study the proposal to lower the tariffs on corn, fish, and meat imports to address inflation carefully before deciding whether to implement this. “We need to see the parameters, if not the details. It will reduce prices definitely but at what cost to our local producers?” Lacson said. Senate Minority Leader Franklin Drilon agreed. ” Mag-ingat sila diyan kasi maaapektuhan ‘yung ating mga […]
(Eagle News) — President Rodrigo Duterte has “expressed alarm” over the rising inflation rate which was registered at 5.7 percent this July, and ordered his cabinet team to come up with measures to address this price rise of goods and services. Presidential Spokesperson Harry Roque said that the cabinet economic team is already trying to find solutions to stem the rise in prices. Duterte’s economic managers are also considering the proposal of House Speaker […]
(Eagle News) – Inflation rate in July rose to an even higher rate of 5.7 percent compared to June’s 5.2 percent, indicating that prices of goods and services continued to rise, according to the Philippine Statistics Authority. “The country’s headline inflation rate continued to move at a faster pace of 5.7 percent in July 2018,” the PSA’s latest report released today, Tuesday, August 7, said. This is the highest recorded in five years, based on […]
(Eagle News) — The camp of Vice President Leni Robredo on Wednesday, July 11, called out President Rodrigo Duterte for his comment she was not ready to lead the country because of her alleged incompetence. “Inflation: 5.2%. Bigas: P42/kilo. $1 = P53.51. Dagdag sa pambansang utang: P1.19T. Sariling karagatan: bawal sa Pinoy. Trapik: palala pa. Patayan, tila araw araw na lang. Incompetent? Nagsalita ang magaling,” Barry Gutierrez, Robredo’s lawyer, said in a tweet. President Duterte […]
(Eagle News) – Inflation continued to increase this June at 5.2 percent, which is higher than the previous month’s 4.6 percent, and exceeding both government and market expectations. This was the highest headline inflation rate for the Philippines since October 2011, when the country last posted a 5.2 percent inflation. It is also the highest since 2013 based on the five-year monitoring of the Philippine Statistics Authority’s year-on-year inflation rate. The inflation rate in […]
(Eagle News) — Inflation accelerated further, marking a record in at least five years, the Philippine Statistics Authority said on Thursday, July 5. The PSA said June’s inflation was “primarily brought about by higher annual rate posted in the heavily-weighted food and non-alcoholic beverages index at 6.1 percent.” In May, inflation was at 4.6 percent. According to the PSA, the acceleration was due to faster increases in the prices of housing, water, electricity, gas, and other […]
(Eagle News) — President Rodrigo Duterte on Wednesday, May 30, defended the implementation of the Tax Reform for Acceleration and Inclusion law, saying money was needed to fund government programs. “Inflation is always there. There are many reasons, but actually, one of them is TRAIN. But I need money also to run the country. If you do not give it, fine,” Duterte said. The President made the statement after several senators called for the suspension […]
(Eagle News) – Funding for some programs will be “in peril” if the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) law is suspended. This is according to Finance Undersecretary and chief economist, Gil Beltran, who made the comment following proposals to suspend the same due to a supposed spike in the rate of inflation, reportedly the fastest in more than 5 years. According to Beltran, in particular, the government expenditures for 2018 on […]
Spike in prices only “transitory,” he says (Eagle News) – Budget Secretary Benjamin Diokno said Wednesday, May 9, that suspending the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) law “will do more harm than good.” His statement came a day after Senators JV Ejercito and Bam Aquino called on government economic managers to suspend the law amid reports of a spike in inflation rate—4.5 percent in April— reportedly the fastest in more than […]
(Eagle News) — The Philippine government should put in place “mitigation measures to cushion the transitory inflationary impact of the Tax Reform for Acceleration and Inclusion (TRAIN) law,” according to the National Economic and Development Authority (NEDA). This was following “recorded increases in the country’s inflation rate” this January 2018 when inflation rose to an “annualized 4 percent” — the highest since the 4.3 percent inflation posted in October 2014. NEDA, on Tuesday, February […]
SYDNEY, Australia (AFP) — Australia’s central bank on Tuesday kept interest rates at a record low in its first meeting of the year, with inflation still soft and the outlook for household spending uncertain. The Reserve Bank of Australia has not adjusted rates since August 2016, following a series of cuts from November 2011 that took it to 1.50 percent in a bid to boost non-mining sectors of the economy. Governor Philip Lowe said in […]
TOKYO, Japan (AFP) — Japan’s unemployment rate in November dipped to its lowest level since November 1993, official data showed Tuesday, offering another sign that the world’s third-largest economy is on track to recovery even if the place is slow. Figures released by the government showed unemployment stoof at 2.7 percent last month while jobs-to-applicants ratio improved slighty, up 0.01 percent from the previous month to 1.56 in November — the highest level in almost […]
