THE weakness of the Philippine peso may lead to higher food and oil costs in the Philippines, according to local economists and analysts. Some analysts, such as Rizal Commercial Banking Corporation (RCBC) Chief Economist Michael L. Ricafort, told BusinessMirror it could lead to inflation averaging 4 percent in June and…
Spending cutbacks to continue, say experts businessmirror.com.ph - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessmirror.com.ph Daily Mail and Mail on Sunday newspapers.
HIGH inflation that could result from extreme weather events and pricey logistics costs prompted the Asian Development Bank (ADB) to reduce its growth expectations for the Philippines this year. In its latest Asian Development Outlook (ADO), the Manila-based multilateral development bank said the country's GDP growth is now projected to…
THE government is keen on temporarily lowering tariffs for the importation of certain commodities as a means to cushion the impact of El Niño on inflation, according to the National Economic and Development Authority (Neda). In a briefing on Wednesday, Socioeconomic Planning Secretary Arsenio M. Balisacan said expanding the coverage…
The country's headline inflation rate slowed to 4.9 percent in October, beating analysts and even the Bangko Sentral ng Pilipinas (BSP) expectations. This was slower than the 6.1 percent inflation posted in September and the 7.7 percent inflation in October 2022. Year-to-date, inflation averaged 6.4 percent. The Philippine Statistics Authority…