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Guiao throws support to Alas after another knee injury

SEEING HIS player Kevin Alas sidelined anew by knee injury, NLEX Road Warriors coach Yeng Guiao could not help but be saddened by it. But he said he remains optimistic that his ward would bounce back from this latest setback even as he threw his support to Mr. Alas, who is expected to undergo months of rehabilitation after surgery.
Playing just five games into his PBA return after a year-long sidelining because of an ACL injury on his right knee, Mr. Alas saw his season cut abruptly again after suffering an ACL tear on the same knee he got operated on.
The unfortunate incident happened on Saturday at the Ynares Center in Antipolo City against the Meralco Bolts off a rebound play where Mr. Alas secured the board and upon landing immediately clutched his right knee.
He was able to stand up on his own strength and walked it off. Mr. Alas was then taken to the hospital for an MRI where it was later confirmed that it was another ACL injury.
Mr. Alas is set to miss another considerable amount of time convalescing.
“It’s the same injury [for Kevin]. It recurred. We are all saddened. We are all devastated by what happened. We are all praying for Kevin. We are supporting him all the way. We will be patient with him. We’ll wait for him until he gets back. We know that he’s a strong boy – he has a strong personality and we know he can come out of this,” said Mr. Guiao as he spoke of what happened to his NLEX guard on the sidelines of Team Pilipinas’ practice on Monday.
“We will just keep supporting him. We can only offer our prayers and encouragement. Everybody is saddened by it, not only the players, coaching staff, management, even our families are devastated of what happened because Kevin is like family to us. But we will just have to be strong for him. We will also dedicate our Friday game to him for the contributions and the efforts he’s made — for his leadership of our team. For the meantime, that’s the best we could do,” added Mr. Guiao, who is girding for Team Pilipinas’ bid in the sixth window of the FIBA Basketball World Cup Asian Qualifiers later this month.
Prior to reinjuring his right knee, Mr. Alas was averaging 8.4 points, 4.6 assists, 3.4 rebounds and a steal for the Road Warriors (2-3).
With Mr. Alas injured, NLEX is forced to play without its top backcourt duo as Kiefer Ravena continues to be out because of his suspension by FIBA. — Michael Angelo S. Murillo

Honda PHL begins racing season with tryouts

CLARK, PAMPANGA — Honda Philippines, Inc. (HPI), officially began its 2019 Motorsports season by conducting the Honda Pilipinas Dream Cup (HPDC) Tryouts on Jan. 26 at the Clark International Speedway in Pampanga. It served as the official selection process for nine talented young riders who will participate in the official races and undergo training in the Honda Racing Clinic.
HPDC is a Motor Sports program of HPI which aims to develop young riders in motorcycle racing using a specific one make race machine, namely the CBR150R — a 150cc, MotoGP DNA motorcycle.
The HPDC is also a step-up program of HPI to young riders to qualify for international race programs of Honda and immerse in different environments to become better equipped for competitions.
Several riders registered as the day began, and the program was officially opened by HPI’s Adviser for Motorsports, Ryosuke Arai. Then Gilbert Sison, Group Head for Motorsports, welcomed the esteemed judges tasked to select the riders, namely racing coach Joey Rivero and Troy Alberto, international racer and HPI’s representative in Thai Talent Cup and Asia Talent Cup last 2018. They also oriented the participants on the tryout process and session inside the 4.2 km Race Track. Also present in the event was Mr. Eduardo Lumague, president of Unified Sports and Racing Association.

Army-Bicycology braces for top grind at Ronda Pilipinas

ARMY-Bicycology will try to recover from losing skipper Cris Joven to injury as it competes in the LBC Ronda Pilipinas 2019 set to start on Friday in Iloilo City.
The 31-year-old Joven injured his left elbow during training in Cavite two weeks back, leaving the Armymen minus their leader and top rider as they compete against some of the best riders not just in the country but in Asia and the world as well.
Warren Bordeos will fill the spot left by Mr. Joven while Southeast Asian Games gold medalist Alfie Catalan takes over as captain for a team composed of Reynaldo Navarro, Marvin Tapic, Mark Julius Bordeos and Robinson Estevez.
“Cris Joven will be a big spot to fill because he’s our best rider and leader of this team,” said Army-Bicycology manager Eric Buhain, who has sponsored the Armymen for the second straight year.
“But we will do our best to be as competitive without him because we will not only represent Army but the country as well,” he added.
Army-Bicycology will have its hands full against not just local competition from Navy-Standard Insurance, Tarlac, Team Franzia, Bike Xtreme and 7-Eleven Cliqq-Air21 by Roadbike Phls but a strong foreign challenge as well from Terengganu, Matrix, Nex Cycling Team, Korail Team Korea, Custom Cycling Indonesia, Cambodia Cycling, PGN Road Cycling, and Sri Lanka Navy Cycling Team.
For the first time after eight editions of this annual race considered as the biggest in the country, Ronda will be sanctioned by the UCI or the world governing cycling body and will stake qualifying points to the 2020 Tokyo Olympics.
The event is presented by LBC, powered by MVP Sports Foundation and supported by Versa 2-Way Radio, Juan Movement Partylist, Joel P Longares Foundation, Standard Insurance, Bike Xtreme, Green Planet, Prolite, Celeste Cycles, Maynilad, 3Q Sports, Boy Kanin, Mega World, Festive Walk, Seda Atria and LBC Foundation and in partnership with the Department of Tourism, Department of Environment and Natural Resources, Iloilo City and the Province of Guimaras.
The race opens with the 197.6-km Iloilo-Iloilo Stage One on Feb. 8.

Wishing Kevin Alas the best

Covering sporting events is surely exciting and fun but once in a while there are moments you just cringe in disbelief, more so if those are in the form of injuries.
While injuries are part and parcel of sports, one just does not get the hang of seeing them happen.
I found myself in such a situation once again on Saturday when I saw NLEX Road Warriors guard Kevin Alas go down with another knee injury just a few games back from missing a year because of, well, knee injury.
Went for a rebound in the fourth quarter of their game against the Meralco Bolts at the Ynares Center in Antipolo City, Alas immediately clutched his right knee upon landing.
He was able to stand up on his own power and walk it off but an MRI after showed that it was an ACL injury on his right knee.
Interestingly, and unfortunately, it was the same knee he injured last March that forced him to miss much of last season.
Uncanny still, it happened anew at Ynares, What were chances of that, right?
Not surprising, everybody in the PBA-dom is saddened by what happened to Alas, 27.
One of the good guys in the league, both on and off the court, one just can feel for the former Letran star.
He was doing well in his PBA comeback, averaging 8.4 points, 4.6 assists, 3.4 rebounds and a steal.
Alas’s return was also a big help for NLEX as he shored up the team’s backcourt in the continued absence of Kiefer Ravena, who is out because of his suspension by FIBA.
Had a brief chat with Alas during PBA Media Day last month and I could vividly remember the excitement on his face on playing anew in the PBA after a long layoff.
“I’m ready to play again, sir,” he said to me while we shook hands; then came last Saturday’s turn of events.
In the aftermath of the reinjury, it is a welcome sight to see everybody surrounding Alas staying positive despite the sour news.
Nowhere to go about it, really, but in such a manner. One just has to hope for the best and everything goes well for Alas as he recovers.
And full recovery of Alas is something I do not doubt. He has a tremendous attitude and work ethic and I am sure he will come back stronger after this.
Wishing you all the best, Kevin. And I am looking forward to writing your PBA journey in far better circumstances in the future. Get well.
 
Michael Angelo S. Murillo has been a columnist since 2003. He is a BusinessWorld reporter covering the Sports beat.
msmurillo@bworldonline.com

Davis sweepstakes

Considering how developments have unfolded in the Anthony Davis sweepstakes, it has become eminently clear that he’s determined to move to the Lakers, and fast. Yesterday, news of his transmittal of the short list of four teams he’s willing to play for exploded in hoops circles, seemingly an indication of his expansion of options. In truth, however, it was a crafty chess move designed to make the Pelicans green-light his departure for the purple and gold before the trade deadline. After all, amenability is one thing, and desire is quite another.
Make no mistake. Davis would be happy suiting up for the Knicks, Bucks, and Clippers, franchises in varied situations and presenting unique sets of opportunities for his career. That said, he would be happiest plying his trade with the Lakers, whom he also knows possess the most number of assets the Pelicans can acquire in exchange for his freedom. Each of the others can come up with offers in the next couple of days, but, even with other parties involved, will not be able to top that which is already on the table.
The Pelicans aren’t stupid, of course, and know there are alternatives to doing a deal pronto. The best-case scenario has the rest of the National Basketball Association engaging in a bidding war for Davis’s services, with the talent-rich Celtics coming through on a promise to break the bank in the process. To counter the possibility, the perennial All-Star has made known in no uncertain terms that he will not sign a long-term deal with the green and white, effectively making him an expensive — make that extremely expensive — one-year rental. For good measure, he even had his father speak about the organization’s lack of loyalty to stalwarts as evidenced by the rough treatment erstwhile star Isaiah Thomas received.
Taken in this context, Davis’ additions of the Knicks, Bucks, and Clippers to his roll of preferred destinations are, in fact, aimed at painting the Lakers as the best trade partners from the Pelicans’ standpoint. And, to be fair, the upgraded offer of Brandon Ingram, Kyle Kuzma, Lonzo Ball and two first-round draft picks for him and the expensive contract of Solomon Hill is a rich one that only the Celtics have the wherewithal to top. The bad news is that he’s racing against time, and his gambit will no longer lead to checkmate once the calendar flips to next week.
At this point, there is every indication that the Pelicans would rather wait until the end of the season to offload Davis. They believe, with reason, that the Lakers’ proposed deal will still be available for the taking at a time when they will likewise be presented with the Celtics’ own trove. The flipside is the weight of uncertainty they will be carrying for the remainder of their 2018-19 campaign. There is benefit in not letting a wound fester, and how much they value that benefit figures to inform their decision at the trade deadline.
 
Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994.

New subcompact sedan Soluto unveiled: Ayala presents revitalized Kia PHL

Text and photos by Kap Maceda Aguila

IT’S official: Ayala Corporation takes control of Kia Philippines. The rejuvenated brand was re-launched on Jan. 20 through a major event attended by Ayala officials, dealer-partners and other guests.
Formally appointed on Dec. 5 last year as official distributor and service provider of the South Korea-based car maker is the conglomerate’s wholly owned AC Industrial Technology Holdings, Inc. (AC Industrials), which in turn controls Integrated Micro-Electronics, Inc. (IMI), and AC Automotive — led by chairman Arthur R. Tan and president Emmanuel A. Aligada. Kia now takes its place as the sixth mobility marque (following Honda, Isuzu, Volkswagen, KTM, and Maxus) in the already considerable portfolio of Ayala.
At a press conference last December with members of the motoring media, Mr. Aligada had revealed that Kia Philippines is set to release three new models in 2019. The first of the nameplates is the Soluto. The subcompact sedan is touted as offering “an array of value-for-money features, highlighted by [a] 1.4-liter dual-CVVT gasoline engine that produces 95ps of power and 132Nm of torque, combined with a spacious interior as well as standard seven-inch touch screen audio with Android Auto and Apple Carplay, [and a] six-speaker system.”
Slotting in at a price point just above the Kia Picanto, the new Soluto (priced between P625,000 and P735,000) joins other more familiar vehicles in the revitalized Kia Philippines: the new Sportage, Grand Carnival, Rio and Sorento.
Mr. Tan in a speech suggested that Kia Philippines will benefit from the Ayala conglomerate’s many diversified interests and expertise to be part of “disruption and changes anchored on several megatrends: mobility, smart energy and connectivity,” adding, “This is where AC Industrials comes in. [Through] this group of companies we have under the Ayala Group we are able to not only see the future but be part of it.”
He spoke of growth expected to happen in the mobility space, and disclosed a study that shows that “by 2050, the Philippines will be one of the top 20 economies in the world. You need to have a foothold in the country if you want to develop at the same pace.” In Kia, AC Industrials “found the right partner who shares in the vision — a global partner who’s already anchored in multiple parts of the world.”
The executive envisions being “part of this mobility future” and declared that the firm is ready to bring technology for the next generation of vehicles. “Autonomy, energy and capacity… we are already engaged in core technologies of the platform.”
Meanwhile, noting that Kia “nearly doubled its brand value from $4 billion in 2012 to close to $7 billion by the end of last year,” Ayala Corporation president and chief operations officer Fernando Zobel de Ayala described the South Korean carmaker as a “solid global brand with a wide range of products that have been strongly patronized by Filipinos. Over the past two decades, Kia has built a foothold in our country.” He also pointed to “multiple quality and design recognitions,” including a runner-up finish last year in overall vehicle quality in the US.
Mr. Aligada said that the next new release for Kia will happen at the yearly Manila International Auto Show in April.
In an interview with BusinessWorld, the executive said the third vehicle is expected to be released in the third quarter of 2019, and admitted; “There may be a fourth — depending on the reception. We’ll see.”
Before being seconded to Kia Philippines, Mr. Aligada worked as an executive of the Ayala-steered Globe Telecom for 14 years, and a further six years with automotive operations. He had said at the last year’s news conference that there are key “elements” of a quick win which would most easily bring the brand (which had been flagging locally) into a state of health. Along with having a “significant, relevant product line,” the enterprise needs to remove barriers of entry into ownership.
Mr. Tan described the re-launching as a “new beginning for a brand that needs no introduction.”

Heavily revised Mitsubishi Strada debuts in PHL, sold in 6 variants

ON NOV. 9, 2018 Mitsubishi Motors Corporation (MMC) held in Bangkok, Thailand, the global premiere of the upgraded Mitsubishi Triton — or Strada, in some markets, including the Philippines (the model is also sold in other places as the L200). During the launch program, MMC chief executive officer Osamu Masuko underscored the Strada’s importance in the company’s lineup, saying the pickup provides a “solid foundation on which we will grow our business in Thailand, the ASEAN region and the world.”
On Jan. 26, Mitsubishi Motors Philippines Corporation (MMPC) introduced this new version of the Strada in the country.
The latest Strada is locally available in six variants. The base variant is the GLX Plus 2WD M/T, which costs P1.165 million. The other variants are the GLX Plus 2WD A/T, GLS 2WD M/T, GLS 2WD A/T, GLS 4WD M/T, and the range-topping GT 4WD A/T, priced at P1.670 million.
Produced at Mitsubishi’s plant in Laem Chabang, Thailand, the pickup is expected to be sold in 150 countries. MMPC said in a statement released during the local launch program it is optimistic that the refinements received by the pickup will make it “one of the most preferred vehicles in its segment.” The company added it is “looking forward to once again dominate the pickup truck segment.”
UPDATED FEATURES
MMPC said the new Strada features Mitsubishi’s “Dynamic Shield” design concept that “communicates a powerful and reassuring sense of protection.” The design is marked by a high hood, LED projector head lamps, a new grille and re-sculpted body curves with contrasting sharp lines. Complementing the changes are seven exterior colors: white diamond, graphite gray metallic, sterling silver metallic, jet black mica, red solid clear, grayish brown metallic, and Impulse Blue metallic.
New features in the Strada’s cabin include a redesigned center panel and console, and a 2DIN touch screen monitor for the multimedia system that can connect to devices via USB, aux-in and Bluetooth with mirror link. MMPC said all variants are equipped with GPS navigation. Other items included are trays for smart phones and a USB port.

Mitsubishi Strada 2
Mitsubishi works driver and Dakar Rally champion Hiroshi Masuoka demonstrates the latest Strada’s capabilities during an activity held alongside the truck’s global reveal in Bangkok, Thailand, in November 2018.

POWER, OFF-ROAD CAPABILITY
The latest Strada is powered by an inline-four 2.4-liter Clean Diesel engine with a variable geometry turbocharger and MIVEC, or the Mitsubishi Innovative Valve timing Electronic Control System. The engine makes 179hp at 3,500rpm and 430Nm at 2,500rpm.
MMPC said the pickup now rides and handles better because of its larger rear dampers, which contain more oil. Braking has also been improved via larger front discs and caliper pistons.
The GT 4WD A/T is equipped with Mitsubishi’s Super Select 4-Wheel Drive system while the GLS 4WD M/T has the company’s Easy Select 4WD system. Both, MMPC said, “deliver optimum traction and handling characteristics on any given road condition.”
Among the safety features of the new Strada are its proprietary Reinforced Impact Safety Evolution, active stability traction control, hill-start assist and trailer stability assist — now standard in all variants. The top GT 4×4 variant adds forward collision mitigation, Ultrasonic Misacceleration Mitigation System and blind spot warning.
The upgraded Strada is now available in all MMPC dealerships.

Less is more:6 fuel-efficient drivers top Isuzu’s economy run

By Aries B. Espinosa
THE usually placid headquarters of Isuzu Philippines Corporation (IPC) at the Laguna Technopark in Biñan, Laguna province was abuzz with activity on the morning of Jan. 26. And it wasn’t just because of the daily “rajio taiso,” or the morning stretching exercises Japanese companies use to wake up the sleepy muscles of its staff.
This time, a different kind of stretching was involved, and it needed the renowned fuel-efficient RZ4E Blue Power engine of Isuzu’s light commercial vehicle workhorses, the Mu-X SUV and the D-Max pickup.
The national level/championship stage of the 2018 Isuzu Fuel Eco Challenge was held on the grounds of the IPC main headquarters, and 40 hopefuls — winners at the dealership level of the challenge held starting Sept. 17 last year — aimed to stretch the most mileage out of their Mu-X or D-Max vehicles using the least amount of Shell Pilipinas diesel fuel.
These finalists only had four kilometers to prove their skills and light-footedness behind the wheel. They also had to contend with the numerous speed bumps, slow-moving trucks and intersections along the perimeter road of the Technopark, which served as the official course for the economy challenge.
The Isuzu Fuel Eco Challenge served as IPC’s way of promoting and advocating fuel-efficient driving among existing Isuzu vehicle owners and eventual Isuzu vehicle buyers, as well as highlighting the unparalleled efficiency, power, ride comfort and durability of the two light commercial vehicles.
In the end, three winners from each vehicle category emerged. The winners in the Mu-X category — Leonardo Eugenio (from Isuzu General Santos), Kart Thomas de Leon (Isuzu Bulacan) and Elizabeth Vinarao (Isuzu Commonwealth) — squeezed out 17.10 km/liter, 17.20 km/liter and 17.60 km/liter, respectively. On the other hand, the three winners in the D-Max category — Eric Empestan (Isuzu Bacolod), Gerald Debblois (Isuzu General Santos) and Gerico Ponce (Isuzu Makati) — registered 18.20 km/liter, 20.20 km/liter and 20.70 km/liter, respectively.
For their achievements, each of the six winners will get to enjoy an all-expense-paid trip for two to Thailand, scheduled this April.
“IPC has always valued, and strove for, not just power and reliability in all its vehicles, but also fuel efficiency. Our RZ4E Blue Power engine epitomizes our effort to produce the most fuel-efficient diesel engine, capable of producing more power for less fuel, which is a perfect match to our economical drivers. It is a very timely reminder that, despite the prevailing volatility of fuel prices in the market, Filipino drivers can save more on fuel expenses with the help of a fuel-efficient partner, the Isuzu Mu-X and D-MAX RZ4E,” said IPC president Hajime Koso, during a program announcing the winners held on Jan. 26 at the company’s headquarters.
Meanwhile, some automotive journalists who tried their hand at the fuel economy challenge managed readings of as much as 24.9 km/liter — sparking theories that those heavy on the ink were light on their feet.

Toyota changes format of one-make race series

TOYOTA MOTOR Philippines (TMP) announced it is introducing changes to its motor sports program this year with the launch of the Vios Racing Festival 2019.
The new race series, scheduled to start in April, replaces the Vios Cup, which TMP conducted from 2014 to 2018.
TMP President Satoru Suzuki said that the Vios Racing Festival will “continue the trailblazing legacy of the Vios Cup.”
TMP said it aims to deliver the action and excitement of motor sports to an even wider audience through the Vios Racing Festival. It added the event will feature two disciplines of racing via the Vios Circuit Championship and the Vios Autocross Challenge.
TMP explained the Vios Circuit Championship will see racers — divided into Promotional, Sporting and Celebrity classes — competing on the track of Clark International Speedway in Pampanga using the new Toyota Vios. Three legs with three races each, scheduled in June, September, and November, will form this series.
In the Vios Autocross Challenge, drivers will compete in time trials to be held on a specially designed obstacle course. The competitions will be held in Metro Manila, TMP said, as it seeks to make the races more accessible to participants and spectators.
The company also announced it will offer an “optimal racing experience” to participants through the Toyota Racing School. The move, according to Suzuki, will “boost and encourage the Filipino interest in motor sports.”
The program will be held together with TMP’s official motor sports partner, Tuason Racing School.

Whether you approve or not, Chinese-made cars are coming

Last year, when Volkswagen Philippines launched five new vehicles sourced from China, many people were livid. How could a German automaker with a rich heritage foist Chinese-made cars on them? Anywhere but China, commented some of these consumers. Much of the feedback was so negative that it was hard to tell whether customers were upset because they thought Chinese products were inferior or because they hated the People’s Republic for entirely political reasons.
Even as the distributor guaranteed that the quality was exactly the same as the brand’s European-manufactured vehicles — and explained that the business decision to source cars from China was mostly spurred by the lower 5% import duties courtesy of the ASEAN-China Free Trade Agreements — there still remained countless car buyers who stubbornly refused to even just consider the models in question. As far as they were concerned, anything from China was to be avoided. A sentiment they presumably shared on social media using their Chinese-made smartphones (yes, iPhones included).
And then last week, Kia Philippines — now under new management — officially unveiled its next bread-and-butter offering, a small sedan called the Soluto. What’s the relevance of this to our topic? The Soluto, you see, is actually the Pegas, a car that Kia had initially designed for the Chinese market. Indeed, the renamed vehicle for our territory is currently assembled in and imported from China.
The common denominator between Volkswagen and Kia in our market? Both are now distributed by Ayala Corporation, a highly reputable business organization whose excellent reputation no doubt played a role in the aforementioned car companies choosing it to become their local representative. I bring up good reputation because anyone hoping to sell Chinese-made cars in our extremely brand-conscious market will need an overabundance of it.
Now, if you’re 35 years old and above, chances are your mind is already made up when it comes to Chinese-made cars. You’ve long decided you won’t ever own one. That’s okay. The distributor probably knows that already. And they’re okay with it. You know why? You’re not the target market. And neither am I.
You see, consumers our age have biases that are now so ingrained in our consciousness that no slick marketing campaign can erase them. I remember helping my father shop for a new car in the US back in 2008. He was bent on getting a Ford Mustang. Meanwhile, I was doing my best trying to convince him to get a Japanese car instead. A Honda Accord or a Toyota Camry perhaps. The moment the names of those Nippon brands left my mouth, he gave me a weird look as though I had just suggested that we go rob a bank. That was because the thought of buying a Japanese car was inconceivable to him. Back in the 1960s, Japanese cars were the Chinese cars of my father’s generation. No matter how passionately I argued in favor of Japan’s present-day car-manufacturing superiority to American and European rivals, my old man would have none of it. He would rather walk than sit behind the wheel of such vehicles named Corolla and Civic.
China and its business partners aren’t aiming for us, my friends. We’re old. We’re on the way out. We’re retiring soon. They know that. And they don’t care. They’re going after the next generation, whose members are easily wowed by fancy and shiny gadgets. So whine all you want — it wouldn’t make a difference. Chinese-made automobiles will soon flood our market. Enjoy your Japanese ride now while you still can.
It is what it is.

December factory output decline steepest in 13 months – PSA

THE country’s industrial production posted a double-digit contraction in December – its biggest in 13 months, the Philippine Statistics Authority (PSA) reported this morning.
In its latest Monthly Integrated Survey of Selected Industries, the PSA said the volume of production index – a measure of factory output – contracted by 10.07% in December, a reversal from the revised 1.63% growth in November. This was also slower than the 6.1% decline posted in December 2017.
This was the sector’s worst performance since the -10.1% decline in November 2017.
This brought factory output volume to average 7.2% in full-year 2018 but was still better than the 0.5% slump recorded in 2017.
Average capacity utilization — the extent by which industry resources are used in the production of goods — was estimated at 84.3% in December. Eleven of the 20 sectors registered capacity utilization rates of at least 80%.
“Ten out of 20 industry group registered annual declines, with two-digit decreases noted in the following major industry group: printing (-79.4%), chemical products (-28.9%), tobacco products (-22.1%), food manufacturing (-17.8%), basic metals (-16.7%) and machinery except electrical (-12.6%),” the PSA said. – Carmina Angelica V. Olano

Inflation eases further in January

INFLATION continued to decelerate in January, the government reported this morning.
Preliminary data from the Philippine Statistics Authority (PSA) showed January inflation at 4.4%, slower than December’s annual rate of 5.1% albeit faster than the 3.4% print in January 2018.
The preliminary result was lower than the 4.5% median estimate in a BusinessWorld poll of 12 economists and analysts conducted late last week. It was, however, within the Bangko Sentral ng Pilipinas’ (BSP) 4.3%-5.1% range seen for that month.
The January reading marked the third straight month of decelerating inflation from a peak of 6.7% in September and October.
The annual January result was also the slowest since the 4.3% result in March.
The PSA attributed last month’s inflation rate to slower increments posted by the heavily weighted food and non-alcoholic beverages, which increased by 5.6% in January from 6.7% in December and 4.4% in January last year.
Core inflation, which strips the volatile food and energy items, was 4.4% last month versus December’s 4.7% and January 2017’s 2.6%.
The BSP sees full-year 2019 headline inflation to average 3.2%, slower compared to the 5.2% finish in 2018 and crawling back to the 2%-4% target band. – Mark T. Amoguis