Huge cash will be burned at the pumps next week, as oil products are anticipated to be on hefty price hikes again by Tuesday (February 20), according to the estimates of the oil companies. On the calculation of the industry players, gasoline prices will rise by P1.40 to P1.90 per liter, while...
While the proposed wage increase is meant to support workers, the Department of Finance (DOF) is concerned that it could lead to inflationary pressures and impose a heavier burden on small business owners. Finance Secretary Ralph G. Recto said on Thursday, Feb. 15, that the proposed legislation for...
Are you eyeing some sweet product, perhaps a cake, for your loved one this Valentine’s day? Worry less as popular baked-accompanied sugar and eggs are reported to decline their prices. Based on the data from the Philippine Statistics Authority, the average retail price of sugar shrunk to P78.10...
ILOILO CITY – The inflation rate in January is the lowest for Western Visayas since 2019. CONSUMERS buy fish in a stall in Iloilo City. (Tara Yap) The Philippine Statistics Authority (PSA)-6 said that prices of basic goods and services dropped 0.2 percent from 3.2 percent in December to three...
House Speaker Martin Romualdez (left), President Ferdinand "Bongbong" Marcos Jr. (Speaker’s office) House Speaker Martin Romualdez is upbeat over the Philppines' improving inflation rate, but admits that the country is still "not out of the...
With rice prices soaring, the head of President Marcos' economic team said that their main focus is to lower inflation and protect the purchasing power of the Filipino people. Finance Secretary Ralph G. Recto said he was “encouraged by the further drop in the Philippines’ headline inflation to...
Consumers are urged to prepare for a surge in rice prices as the government warned that recent cost increases for the nation's staple food are expected to persist, posing a threat to the country's most vulnerable households. In a briefing, Philippine Statistics Authority (PSA) Undersecretary Claire...
The country's inflation rate in January this year marked its slowest growth in over three years, registering at 2.8 percent, the Philippine Statistics Authority (PSA) said. This means that the inflation rate, or the increase in prices of goods and services, moved at a slower pace during the period...
The Department of Finance (DOF) stated that the government is committed to implementing measures to reduce inflation, thereby stimulating private spending to drive growth and increase government revenues. In a statement on Wednesday, Jan. 31, Finance Secretary Ralph G. Recto said the government...
The Department of Finance (DOF) has vowed to prioritize efforts aimed at curbing the elevated consumer prices that are impeding the country's economic growth and hindering the generation of additional government revenues. In a briefing on Wednesday, Jan. 24, Finance Secretary Ralph G. Recto said...
The Philippines’ economic growth will maintain its progress this year only if effective policy responses are being implemented, researchers from the Philippine Institute for Development Studies (PIDS) said. In a study titled “Macroeconomic Outlook of the Philippines in 2023–2024: Prospects...
ILOILO CITY – The Western Visayas region recorded its lowest inflation rate since 2021 last December, the Philippine Statistics Authority (PSA)-6 said. PEOPLE purchase fish in a stall in Iloilo City. Inflation in Western Visayas decreased to a two-year low last month. (Tara Yap) PSA-6 said the...
