MB Daily News Update: PH inflation soars to 6.4%

Published August 5, 2022, 4:46 PM

by Manila Bulletin

Inflation measures the rate of increase in consumer prices, and this settled in July at 6.4 percent, which was way above the government’s target of between two to four percent. It was also higher than the 3.7 percent registered in the same month last year.

Malacañang stepped into the leadership impasse at the Philippine Economic Zone Authority (PEZA) between presidential appointee Tereso Panga and former PEZA director general Charito Plaza, and said that it will be moving quickly to resolve the issue.

The Palace also said it was closely monitoring the status of Filipinos in Taiwan after a recent visit by US House Speaker Nancy Pelosi heightened tensions between China and the self-ruled island.

The Department of Social Welfare and Development (DSWD) issued a new set of guidelines, simplifying the release of cash aid to persons in crisis.

Meanwhile, expect a rainy weekend as a low-pressure area (LPA) will be traversing the island of Luzon in the coming days.

These are among the top stories this Friday afternoon, August 5, 2022.

WATER LILY FEST – Senator Cynthia Villar, Senator Mark Villar, and Las Piñas Rep. Camille Villar join the 20 women representing all the barangays in Las Piñas City wearing dresses made from water lily during the 15th Las Piñas Water Lily Festival at the Villar SIPAG on C5 Extension in Las Piñas City on Friday, Aug. 5, 2022. (Ali Vicoy)
 
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