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Peso up on trade data | BusinessWorld

​ THE PESO strengthened against the greenback on Thursday following the release of trade data, which showed a continued slump in imports in February. The local unit closed at P48.54 per dollar on Thursday, gaining 4.5 centavos from its P48.585 finish the day prior, data from the Bankers Association of the Philippines showed. Week on week, however, it depreciated by a centavo from its P48.53 close on March 31. The market is closed on Friday in observance of the Day of Valor. The peso opened the session at P48.64 per dollar. Its weakest showing was at P48.66, while its intraday best was at P48.50 against the greenback.

March inflation eases to 4 5%

SunStar March inflation eases to 4.5% SLOWDOWN. Central Visayas is one of the areas outside the National Capital Region that exhibited a slow down in inflation at 1.5 percent in March 2021. / SUNSTAR FILE + April 06, 2021 THE country’s inflation rate has eased to 4.5 percent in March 2021 after five consecutive months of acceleration. This brings the average inflation of the country for the first quarter of 2021 at 4.5 percent, the Philippine Statistics Authority on Tuesday, April 6, 2021, said. The slowdown in inflation at the national level was primarily due to the lower annual increment registered in the heavily-weighted food and non-alcoholic beverages at 5.8 percent in March 2021, from 6.7 percent inflation in February 2021.

TUCP calls for wage subsidy in the wake of dismal GDP news

January 29, 2021 | 6:58 pm Font Size PHILIPPINE STAR/MICHAEL VARCAS After Thursday’s announcement that the country experienced its worst economic decline since World War 2 last year, the Trade Union Congress of the Philippines (TUCP) on Friday called on the government to provide a wage subsidy to workers. In a statement released on Friday, TUCP President and Party-list Rep. Raymond C. Mendoza said, “We have long been urging the Government to get ahead of the recession and put into place wage subsidies for those who are struggling to stay afloat. A wage subsidy is urgently needed, as the economy has not bounced back as predicted by the economic managers.”

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