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OPPOSITION MEMBERS of the House of Representatives have filed a bill seeking to suspend the excise tax on kerosene and diesel contained in the provisions of the Tax Reform for Acceleration and Inclusion (TRAIN) law.
THE OVERALL INCREASE in prices of widely used goods likely clock in around 5.9% in August — marking a fresh multiyear high — the Bangko Sentral ng Pilipinas (BSP) said in a statement on Friday, noting that food and utility costs maintained their ascent.
Independent Philippine Petroleum Companies Association (IPPCA) has asked the Department of Energy (DoE) to consider other means in helping rein in inflation instead of...
THE OVERALL RISE in prices of widely used goods can be expected to creep closer to six percent this month before peaking in September, the head of the Bangko Sentral ng Pilipinas (BSP) said in a forum on Friday.
INFLATION should peak in the next two months before slowing closer to target, the country’s central bank chief said, noting that tax-related price pressures have been “tapering off.”
THE GOVERNMENT is “very concerned” about the rising price of fish amid declining production over the past five years, raising the risk of reduced access to and higher prices for a type of food deemed to be a key source of low-cost nutrition for the population.
The Department of Energy (DoE) has issued a directive to oil companies to start selling Euro 2 diesel even ahead of the Environment department's...
THE DEPARTMENT of Trade and Industry (DTI) office in the Autonomous Region in Muslim Mindanao has stepped in to curb what it tagged as “a massive price inflation of rice and shortage of food supply” in the island province of Sulu.
The question facing policy makers in the Philippines is not whether to raise interest rates for a third time in a row, but by...
THE BANGKO SENTRAL ng Pilipinas (BSP) will most likely raise benchmark interest rates anew this week as inflation can be expected to have spiked further in July, analysts said in a BusinessWorld poll, with some noting there is room for a 50-basis-point (bp) hike to ease price pressures.
THE INSURANCE industry is unfazed by high inflation in the second quarter, the Insurance Commission (IC) said, as it hopes to sustain double-digit growth figures.
“Kung mayroong intervention ang gagawin, isa sa pinakamahalaga ay ang pagpasok ng murang bigas. (If there should be an intervention, it should be importing cheap rice),” Senate Economic Affairs Committee Chair Sen. Sherwin T. Gatchalian said in a radio interview Friday.
THE DEPARTMENT of Finance (DoF) expects that inflation in June quickened further to a fresh six-and-a-half year high as seasonal rains pushed vegetable prices higher and households spent on education-related items as the new school year began.
INFLATION likely clocked in faster in June on the back of rising food and oil prices coupled with a weaker peso, economists said in a BusinessWorld poll, with some noting that another rate hike may still be on the table for the central bank to temper prices.
THE PESO could weaken further to breach the P54 level against the dollar this year amid a persistent trade gap and faster inflation, analysts at BMI Research said, with recent rate hikes still not enough to keep the currency competitive.
ASIAN central bankers grappling with wobbly markets, higher energy costs and simmering trade tensions are getting relief from an old foe: food prices.
SUCCEEDING rate hikes may need to be implemented by the Bangko Sentral ng Pilipinas (BSP) over the coming year in order to arrest faster inflation and keep the peso competitive, a global bank said.
INFLATION momentum has been easing as price spikes due to tax reform have decelerated, the central bank said as it decided to raise rates last month in order to temper future price increases.
INFLATION clocked slower than expected in May but still marked the fastest clip in more than five years and kept the year-to-date pace past the government’s 2-4% target for 2018, prompting state economic managers to express concern and assure the public of action in separate statements on Tuesday.
By Arra B. Francia, Reporter Local shares surged on Tuesday, June 5, as investors cheered the lower-than-expected inflation data for the month of May. The 30-company...