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House bill seeks to suspend fuel excise when inflation spikes

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.

Turkey inflation surges to 15-year high in August

Ankara -- Inflation in Turkey rose again in August to nearly 18 percent, official statistics showed on Monday, a record since late 2003 and...

Poll sees fresh multiyear-high inflation

INFLATION likely zoomed to a fresh multi-year high in August due largely to higher food costs, analysts said in a BusinessWorld poll, boosting the case for another rate hike this month to douse surging prices.

Central bank flags even faster August inflation

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.

Statistics body: GDP rebasing to wait

THE PHILIPPINE STATISTICS AUTHORITY (PSA) will hold off till 2020 the use of a new baseline for measuring economic growth.

Expectations of another interest rate hike mount

A FOURTH successive tightening move may be announced by the central bank next month, a global bank said, as it sees inflation topping six percent until September.

Group of oil firms appeals to DoE on Euro 2 revival

Independent Philippine Petroleum Companies Association (IPPCA) has asked the Department of Energy (DoE) to consider other means in helping rein in inflation instead of...

Oil firms oppose shift to Euro 2 diesel

INDEPENDENT oil companies are opposing the directive of the Energy department to make Euro 2 diesel available at their fuel retail stations, saying the move would require “significant” spending for a problem of the government’s doing.

Central bank sees inflation closer to 6% this month

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.

Central bank sticks to outlook of slower inflation by Q4

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.”

Finance dep’t reiterates fears about fish prices, supply driving inflation

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.

To address inflation, DoE issues order that will bring back Euro...

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...

DTI-ARMM steps in to curb food shortage, rice price inflation after...

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.

BSP raises policy rates anew

The Bangko Sentral ng Pilipinas (BSP) raised rates anew on Thursday, Aug. 9, in a more aggressive move as expected, to arrest faster inflation...

Biggest rate hike in a decade on the cards for the...

The question facing policy makers in the Philippines is not whether to raise interest rates for a third time in a row, but by...

Inflation up by 5.7% in July

Inflation continued to accelerate in July, the government reported this morning. Preliminary results from the Philippine Statistics Authority (PSA) showed the prices of widely used...

How much have prices gone up for poor families?

Second-quarter inflation, as reflected in goods and services widely used by low-income households, rose to 6.5%, its highest level in almost four years, led...

Economists expect fresh rate hike

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.

Manulife remains bullish despite market headwinds

The asset management and trust arm of Manufacturers Life Insurance Co. (Phils.), Inc. (Manulife) is bullish on the local capital markets on the back...

July inflation seen at 5.6%

Inflation likely surged to 5.6% in July led by higher electricity rates and rice prices plus a new wave of excise taxes on cigarettes,...

BSP sees July inflation still past 5%

PRICES of widely used goods likely sustained their overall increase past an official full-year target in July, the Bangko Sentral ng Pilipinas (BSP) said on Tuesday.

Inflation seen to pick up further this month

The central bank says inflation could pick up further in July as most commodities saw prices rise. In a statement, the Bangko Sentral ng Pilipinas said...

Insurance industry mostly unaffected by inflation’s rise

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.

Lawmakers eye rice imports amid 5.2% inflation

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.

Inflation surge spurs rate hike view

INFLATION surged in June to a fresh five-year high as it beat market and government estimates given for the month, leaving the door open for another policy interest rate hike.

June inflation highest in five years

Philippine inflation reached a fresh high in at least five years last month, the government reported this morning. Preliminary results from the Philippine Statistics Authority...

Finance dep’t estimates 4.9% June inflation

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.

Food, oil to stoke June inflation

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.

BSP sees June inflation between 4.3-5.1%

INFLATION remained elevated in June given higher prices of rice and crops as well as cooking gas, the Bangko Sentral ng Pilipinas (BSP) reported on Friday.

Trade gap, inflation to push local currency past P54:$1

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.

BSP tightens anew to temper inflation

THE Bangko Sentral ng Pilipinas (BSP) raised rates yesterday after a similar move in May in a bid to arrest future inflation and keep local yields competitive.

BSP hikes rates to contain ‘elevated’ inflation

By Melissa Luz T. Lopez, Senior Reporter The Bangko Sentral ng Pilipinas (BSP) raised rates on Wednesday, June 20, following a similar move in May...

Central bank faces ‘complex’ policy environment

THE MONETARY BOARD (MB) is gearing up for an earlier rate-setting meeting next week as it faces a “fairly complex” mix of faster inflation, a weakening peso and robust economic growth.

Asia central banks juggling risks find solace in food

ASIAN central bankers grappling with wobbly markets, higher energy costs and simmering trade tensions are getting relief from an old foe: food prices.

BSP exec downplays rate hike calls

A CENTRAL BANK official has downplayed calls for a fresh hike in benchmark interest rates in the face of faster inflation, arguing such a move will not arrest supply-driven pressures.

BSP may need to tighten policy further — Deutsche Bank

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.

Deutsche Bank says more BSP rate hikes necessary

Succeeding rate hikes may be needed for the Bangko Sentral ng Pilipinas (BSP) over the coming years in order to arrest faster inflation and...

Monetary Board sees inflation momentum slowing — minutes

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.

Wages watched for price impact

AN UNEXPECTED increase in minimum wages could prompt the Bangko Sentral ng Pilipinas (BSP) to raise rates anew, a global bank said, even as inflation is expected to ease over the coming months.

Government flags inflation concern

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.

Stocks post gains after release of May inflation data

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...

Consumer prices rose further in May

Consumer prices rose to its fastest pace in more than five years in May, the government reported this morning. The Philippine Statistics Authority (PSA) said...

DoF sees May inflation at 4.9%

INFLATION likely accelerated year-on-year, the Department of Finance (DoF) said, but the rise in prices on a monthly basis continued to moderate. In an economic...

Inflation seen to have surged in May

Inflation likely accelerated further in May as oil and rice prices kept rising, the Bangko Sentral ng Pilipinas (BSP) said on Thursday, May 31. Prices...

The right way to gain financial security

Considering the economic climate today, saving money is not enough to be financially secured. Saving alone can derail one’s financial goal. The right way...