The government attributed the easing of inflation in July to lower transport costs, improving supply conditions, and sustained interventions, even as officials vowed to continue measures aimed at stabilizing food prices and shielding vulnerable households from rising living costs. The Philippine...
The World Bank urged the Philippines to accelerate power sector reforms to lower electricity costs and reduce its dependence on imported fuel, saying cheaper and more reliable power has become critical to sustaining economic growth, attracting investments, and reducing poverty after the country’s...
A “triple threat” of crude oil prices topping $80 per barrel, Metro Manila’s ₱85 daily wage hike, and severe El Niño conditions could push third-quarter Philippine inflation back to levels seen during the height of the Middle East crisis and prompt the Bangko Sentral ng Pilipinas (BSP) to...
DAVAO CITY – Mounting public outcry over soaring electricity bills has pushed members of the Davao City Council to call for urgent regulatory interventions, rate rollbacks, and structural reforms to protect local consumers from severe price shocks. In a privilege speech during Monday 's...
The peso sank to a fresh record low against the United States (US) dollar on Friday, weighed down by escalating import burdens, global energy cost pressures, and persistent demand for foreign currency. The local currency closed at ₱61.847 per US dollar on July 24, according to official data from...
Malacañang maintained that crime rate has declined despite the recent string of crimes in the country. The Palace stood by the Philippine National Police data showing that crime rate decreased by 20.6 percent as of July this year. "Alam po natin at kari-report lamang din po ng PNP na iyong crime...
After setting a price cap for booking and platform fees for app-based taxis which indicates approval of such operation, the Land Transportation Franchising and Regulatory Board (LTFRB) has revived the fixed pick-up rate for ride-hailing services in a bid to level the playing field for both the...
The Asian Development Bank (ADB) slashed its Philippine economic growth forecast to 3.8 percent this year, which, if realized, would be the country’s slowest post-pandemic expansion amid delayed investments, higher inflation, and risks from climate shocks. In its Asian Development Outlook (ADO)...
Inflation, or year-on-year consumer price increases, slowed slightly to 6.4 percent in June as gas prices eased, even as the headline rate continued to be much higher compared with year-ago levels. National Statistician Claire Dennis S. Mapa noted during a press briefing on Tuesday, July 7, that...
Factory gate prices accelerated further in May, bucking the easing in consumer inflation as higher manufacturing costs reached their fastest pace in more than three years, driven mainly by the electronics industry. The latest preliminary Philippine Statistics Authority (PSA) data on Tuesday, June...
Think tank Capital Economics expects the Philippine economy to grow below the government’s downgraded targets over the next three years, warning that the country’s recovery would likely remain sluggish as weak confidence, tight fiscal policy, and the lingering impact of recent shocks weigh on...
It seems to be a foregone conclusion that the Marcos Jr. (BBM) Administration will not be able to achieve its target of bringing down the Philippine poverty incidence to a single digit by the time it exits in July 2028. Most probably, this poverty rate will return to close to 16 percent of the...
