philippine news

Jul 5, 20080

Inflation 11.4% in June, highest in 14 years

Michelle Remo
Philippine Daily Inquirer

MANILA, Philippines—The prices of services and goods consumed by an average Filipino household went up by 11.4 percent in June from a year earlier—the fastest rate recorded in 14 years—due largely to the substantial increase … Read the rest

Jul 5, 20080

Consumer prices soar to highest in 14 years

Des Ferriols
Philippine Star

Inflation rose to a 14-year high in June on the back of soaring prices of oil and basic goods, data released yesterday by the National Statistics Office (NSO) showed. With prices at new record highs, the … Read the rest

Jul 5, 20080

Inflation at 14-year high; gasoline up by another P1

from The Manila Standard

FOOD and fuel price hikes pushed inflation up to 11.4 percent in June, the highest level in 14 years, with rice prices soaring by 60.5 percent in Metro Manila and gasoline prices breaking past P60 a … Read the rest

Jun 23, 20080

IMF says BSP move on inflation ‘appropriate’

Des Ferriols
Philippine Star

The International Monetary Fund (IMF) said yesterday that the Bangko Sentral ng Pilipinas (BSP) was “appropriately hawkish” with its monetary policy, after earlier statements criticizing the Philippines for being behind the curve on inflation management.

The … Read the rest

May 21, 20080

RP a cheap place to live, but purchasing power low

Ma. Elisa Osorio
Philippine Star

Despite soaring prices, the Philippines is the second cheapest place to live among 55 economies surveyed by a Swiss-based think tank.

However, despite the low cost of living and the relatively high gross domestic product … Read the rest

May 19, 20080

Bangko Sentral powerless against inflation, says ADB (Interest rate hike to push RP into recession)

Darwin G. Amojelar and Maricel E. Burgonio
Manila Times

THE Asian Development Bank said an increase in the Bangko Sentral ng Pilipinas’ (BSP) interest rates is unlikely to temper rising inflation given the current trend of higher food and fuel … Read the rest

May 19, 20080

LTFRB raises bus, jeep fares

Rainier Allan Ronda
Philippine Star

The Land Transportation Franchising and Regulatory Board (LTFRB) has finally granted the separate petitions for provisional fare hikes of public utility jeepneys (PUJs) and buses (PUBs).

Thompson Lantion, LTFRB chairman, said a 50-centavo provisional fare … Read the rest

May 12, 20080

DTI: No price increase in school supplies

Maria Elisa Osorio
Philippine Star

The Department of Trade and Industry (DTI) announced there will be no increase in the price of school supplies in spite of the rising costs of other basic commodities.

“At the same time, we have … Read the rest

May 10, 20080

Monetary officials see prices moderating late this year

Des Ferriols
Philippine Star

Monetary officials said demand pressures are beginning to show up in global markets but domestic prices could start to moderate late this year and early 2009.

The optimism, however, is being tempered by uncertainties over the … Read the rest

May 8, 20080

Palace calls for concerted effort to slow down rising costs

Paolo Romero
Philippine Star

Malacañang called on various sectors, particularly businesses and Congress, to help stem the rising cost of basic commodities.

Secretary to the Cabinet Ricardo Saludo and Trade Undersecretary Vic Dimagiba, in separate statements, reiterated the government is … Read the rest

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